While Fools should generally take the opinion of Wall Street with a grain of salt, it's not a bad idea to take a closer look at particularly stock-shaking upgrades and downgrades -- just in case their reasoning behind the call makes sense.

What: Shares of Sprint  (NYSE:S) climbed 2% this morning after Deutsche Bank upgraded the telecom giant from hold to buy.

So what: Along with the upgrade, analyst Brett Feldman reiterated his price target of $9.25, representing about 17% worth of upside to yesterday's close. While momentum traders might be turned off by the stock's steady year-to-date decline, Feldman believes Sprint is too cheap to pass up given its still-significant competitive edge and solid growth prospects.

Now what: According to Deutsche, Sprint's risk/reward trade-off is rather attractive at this point. "[O]ur upgrade to Buy reflects the recent pullback in the stock and is based on the same 2 key themes we outlined last July: (1) a significant spectrum advantage and (2) an outlook for material EBITDA growth during the next 2 years," noted Feldman. "We are not factoring in any M&A, NOL value or significant share gains. Rather, we continue to model substantial sub losses in 1H14 followed by a return to modest growth once Network Vision is complete." So while Sprint is still too speculative for conservative investors, that upbeat view, coupled with the stock's still-beaten down price (off about 25% from its December highs), might make it an interesting pick for tech-savvy contrarians.