CoreCivic price target raised to $18 from $17 at Wedbush

Wedbush analyst Henry Coffey raised the firm’s price target on CoreCivic to $18 from $17 and keeps an Outperform rating on the shares. CoreCivic reported Q4 results that were above consensus expectations, and reported guidance that was in-line from an EPS perspective, but below expectations on an EBITDA basis, the analyst tells investors in a research note. Wedbush feels a certain degree of conservatism built into the initial FY24 guidance, given expectations for more favorable operating expense trends this year, which should help to generate incremental NOI margin expansion.