Triumph Group (TGI) shares jumped more than 15% on Tuesday after analysts at Baird upgraded the firm's shares to outperform from underperform and said recent declines make for a good entry point now.
Baird also raised its price target on the shares to $30 from $25, suggesting an almost 50% upside from Monday's close.
The shares closed at $23.85, up $3.40 or 16.6%
The move in Triumph shares is their biggest one-day move this year.
There's likely some short squeezing going on too, as FactSet data show the stock has been one of the most shorted issues on the Russell 3,000 this year.
Those data show that as of its last quarterly filing short interest was 14 times average daily trading volume and amounted to 17% of the company's outstanding shares.
The company last week said that its Vought Aircraft Division could be insolvent, and that news prompted researchers at Wells Fargo to tell clients in a Tuesday note that, "the stock price more than discounts the risks and does not yet reflect some of the favorable outcomes."
Wells still rates the shares outperform and sees their price in somewhere in, "the high 20s."
The aerospace firm's move Tuesday is its biggest change since December 2015 according to FactSet data, and it follows a strong Monday performance too. Monday's move came on six times normal daily volume.