Oppenheimer analyst Scott Schneeberger raised the firm’s price target on Target Hospitality to $18 from $17 and keeps an Outperform rating on the shares. The firm anticipates Target’s Pecos Children’s Center contract to be extended. The U.S. government appears to be seeking multiple influx care facilities, which bodes well for PCC considering its largest customer’s prior investment in Target’s expansion of the facility to better serve as an ICF. With unaccompanied immigrant minor border crossings resuming to an elevated level in recent months, PCC returned to active status as of 9/11/23.
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