Wedbush analyst Jay McCanless came away from an advisor call with former Pennsylvania Congressman Ryan Costello more positive on both GEO Group (GEO) and CoreCivic (CXW), especially if there is a Republican sweep of the White House and both bodies of Congress come November. Costello views this as a distinct possibility, the analyst tells investors in a research note. The firm says that if this were to occur, it would put the appropriations process and authorizing committees in Republican control, which would be largely sympathetic to Donald Trump’s proposed immigration policies. Wedbush believes a Republican victory in November could have positive implications for both Geo and CoreCivic.
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