Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of dry-cargo shipper Navios Maritime Partners (NYSE: NMM) are floating higher today, up by 15% at the high, after an analyst started the stock with an "overweight" rating.

So what: JPMorgan initiated coverage on Navios with an overweight rating and a price target of $20.50. That price target represents a healthy 47% premium over yesterday's closing price of $13.93, and still 28% higher than today's high so far of $15.97.

Now what: Navios trades relatively lightly with average volume of around 284,000 shares, compared to the average volume of fellow dry-bulk shippers like Dryships (Nasdaq: DRYS) and Excel Maritime Carriers (NYSE: EXM) with 6 million and 544,000, respectively. The sector has been beaten down as the recession has weighed on demand for materials like iron ore and steel, so having a well-known analyst like JPMorgan taking a bullish stance can be a boon. In addition, the Baltic Dry Index, which is an important measure of shipping rates for the sector, is also higher today.

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