UPDATE: Global Hunter Securities Downgrades Metalico (MEA) to Accumulate; Valuation Call

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March 1, 2012 8:25 AM EST
Get Alerts MEA Hot Sheet
Price: $0.60 --0%

Rating Summary:
    1 Buy, 1 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 12 | Down: 19 | New: 8
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(Updated - March 1, 2012 8:38 AM EST)

Global Hunter Securities downgraded Metalico (NYSE: MEA) from Buy to Accumulate, maintains price target of $6.50.

Analyst, Joe Giamichael, said, "We are reducing our rating as a result of the rapid increase in share price coupled with our expectation of unexciting Q4 results. However, we remain bullish on the long-term prospects for the company and based on 2012 full-year earnings of $0.57 per share and ~$63MM of EBITDA our $6.50 price target remains intact."

For an analyst ratings summary and ratings history on Metalico click here. For more ratings news on Metalico click here.

Shares of Metalico closed at $5.02 yesterday.

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