Wedbush Maintains Outperform Rating for CoreCivic: Here's What You Need To Know

Wedbush has decided to maintain its Outperform rating of CoreCivic CXW and raise its price target from $17.00 to $18.00.

Shares of CoreCivic are trading up 3.6% over the last 24 hours, at $15.54 per share.

A move to $18.00 would account for a 15.83% increase from the current share price.

About CoreCivic

CoreCivic Inc is an owner and operator of private prisons and detention centers in the United States. It operates in three segments: Safety, Community, and Properties. The Safety segment operates roughly 50 facilities and owns majority of them. The Community segment owns and operates close to 30 residential reentry centers. The Properties segment owns approximately 15 properties for lease to third parties and government agencies. The vast majority of the company's revenue comes from the Safety segment. Its customers are federal, state, and local government agencies. Commercial contracts are typically 3-5 years long with multiple renewal options. CoreCivic operated as a Real Estate Investment Trust until January 2021 when it was reorganized as a taxable C Corporation.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.