Northland sees Geo Group benefiting from migrant response, starts at Outperform

As previously reported, Northland analyst Greg Gibas initiated coverage of Geo Group with an Outperform rating and $14 price target. With increasing migrant challenges in recent months, the firm is optimistic that the federal FY24 budget will allocate more funding for bed capacity and/or electronic monitoring and believes Geo Group is well-positioned to benefit from increased electronic monitoring of immigrants, calling the practice “a cost-effective and humane alternative to detention to keep track of immigrants” that is currently under-utilized.