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 wholesale financial brokerage firm BGC Partners (NASDAQ:BGCP) are rebounding nicely, up as much as 17%, following an analyst upgrade from Raymond James Financial.

So what: The covering analyst at Raymond James, Patrick O'Shaugnessy, noted that the recent drop off in BGC's share price was likely unwarranted and upgraded the company to "strong buy" from "outperform." As a story from the Associated Press notes, the perfect storm of a reduced quarterly dividend ($0.17 per quarter down to $0.12), tougher financial regulations from Dodd-Frank, equipment issues from Superstorm Sandy, and a credit rating withdrawal from Moody's left BGC's share price very vulnerable.

Now what: I wholeheartedly agree that this is definitely the perfect storm of short-term short-sellers' dreams. However, looking at the big picture, BGC still appears to be doing a pretty decent job of generating income for shareholders and growing its business through acquisitions. The recent rebound in the real estate market helped boost total revenue by 17% in its most recent quarter, and the yield is still well north of 10%. BGC won't be without its hiccups, but it could make for a bargain play even with today's large pop higher.

Craving more input? Start by adding BGC Partners to your free and personalized watchlist so you can keep up on the latest news with the company.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.