SunTrust’s Tobey Sommer upgraded Corrections Corp Of America CXW to Buy with $20 price target on continued double-digit dividend and positive news flow to be mixed into the uniformly negative news of the last two months.
“We now assume that out-of-state business with CA goes to zero resulting from Prop 57 and BOP business approaches zero by 2019,” Sommer wrote in a note.
However, the analyst cut 2017 AFFO estimate to $1.70 from $1.89 and established estimates of $1.61 in 2018 and $1.50 in 2019.
At time of writing, shares of Corrections Corp Of America fell 1.61 percent to $13.45.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.