CoreCivic initiated with an Outperform at Northland

Northland analyst Greg Gibas initiated coverage of CoreCivic with an Outperform rating and $16 price target. As , The firm believe CoreCivic – the largest private owner of real estate and facilities used by government agencies – is well-positioned for organic growth through the recovery of the depressed occupancy levels mostly caused by COVID. The firm likes CoreCivic’s strong long-term relationships and renewals with the government amid the present need for critical infrastructure for safety and security services, the analyst tells investors.