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 transportation supplier Meritor (NYSE:MTOR) rose as much as 10% today after the company was upgraded by an analyst.
So what: Analysts at Barclays Capital upgraded the stock from equal weight to overweight in a report today. The stock is not highly followed, and most analysts currently have a neutral rating of the stock.
Now what: Long-term investors shouldn't see this upgrade as a reason to buy shares today. The company reported a 13% decline in revenue last quarter, and we won't be able to assess how the third quarter was until Nov. 14, when the company releases earnings. Until then, I would take a wait-and-see approach to see if revenue turns around and profitability continues to improve.
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