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 international oil and gas company BPZ Resources (NASDAQOTH:BPZRQ) jumped 12% today after an analyst upgrade.

So what: Wunderlich Securities raised its price target for the stock to $7 from $6, which is over double today's share price. This comes after BPZ's first-quarter loss of $0.03 was half of what analysts expected.  

Now what: Analysts expect BPZ to swing to a profit in early 2015, but if results continue to exceed expectations that could happen later this year. A price target more than double the current stock price is aggressive in any market. These kind of pops often don't last over the long term, so I'd take a cautious approach and look for more financial improvement before jumping in. That would reduce the risk on a company that's still losing money.

Travis Hoium has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.