Hilary Kramer likes Metalico (MEA)

Hilary Kramer put it on the line for Metalico, Inc. (AMEX:MEA) last night on the Nightly Business Report, the stock is up 8% today.  Go scrap metal.

Here's how the conversation went down:

KRAMER: Paul, I'm buying stocks and I'm buying the commodity-related stocks, especially in the precious metals and in the steel, iron ore, copper, aluminum.

KANGAS: Let's get specific. What's your first stock you want to talk about?

KRAMER: I have been buying a stock called Metallico. I talked about it before on the show. Metallico's symbol is MEA. The stock is $11.20. It's down from $18 at the very end of June. It just came down because the price of oil came down, but scrap metal pricing stays firm. And we're going to see Metallico go back up to where it should be. Fair value as an analyst I see it well above $20.

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The recent analyst take agrees with Kramer:

Big move for MEA today, if it dips again Buy, otherwise, best to keep it on your watch list.

There's no doubt Metalico is a great stock and company, but after a 8% move on a $12 stock, it's best to let the dust settle.