27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
Wells Fargo maintained its Market Perform rating on Corecivic Inc (NYSE:CXW) as several business uncertainties offsets an above-average dividend yield and Trump policies.
Analyst Robert LaQuaglia noted uncertainty surrounding the company's federal business, especially with the Bureau of Prisons, is keeping him on the sidelines on CoreCivic.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
Despite continued ramp of Immigration & Customs Enforcement (ICE) contract, the loss of a Bureau of Prisons contract at Eden Detention Center and continued declines in California out-of-state populations would hurt investor sentiment.
Related Link: Does Jeff Sessions As Attorney General Affect The Thesis On CoreCivic?
However, the analyst reaffirmed his 2017 “normalized” Funds-From-Operations (FFO)/share estimate at $2.26 and initiated a 2018 estimate of $2.16.
The analyst also raised his valuation range to $30-$34 from $20-$24, given increased expectations for potential new ICE contract wins due to President Trump’s strict border initiatives.
“While an above-average dividend yield may be attractive to income investors, uncertainty surrounding the company's federal business - particularly with the Bureau of Prisons, potential further CA inmate reductions, a limited acquisitions market, fair valuations and negative sentiment from a social responsibility investment perspective keep us from our highest rating at this time,” LaQuaglia wrote in a note.
At last check, shares of CoreCivic, formerly Corrections Corporation of America, were up 0.88 percent to $34.36.
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.