Thursday, September 23, 2021
CoreCivic, Inc. (CXW)
Title 42 Ruling; Contract Updates
CoreCivic is a diversified government solutions company with the scale and experience needed to solve tough government challenges in flexible, cost-effective ways. We provide a broad range of solutions to government partners that serve the public good through corrections and detention management, a growing network of residential reentry centers to help address America’s recidivism crisis, and government real estate solutions. We are a publicly traded real estate investment trust and the nation’s largest owner of partnership correctional, detention and residential reentry facilities. We also believe we are the largest private owner of real estate used by U.S. government agencies. The Company has been a flexible and dependable partner for government for more than 35 years. Our employees are driven by a deep sense of service, high standards of professionalism and a responsibility to help government better the public good.
Joe Gomes, Senior Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Title 42 Ruling. Last week U.S. District Judge Emmet Sullivan blocked the Federal government from expelling migrant families from the United States under “Title 42.” The order takes effect in 14 days. The government has filed a notice of appeal to the United States Court of Appeals for the District of Columbia Circuit. If upheld, the elimination of Title 42 expulsions could increase demand for CoreCivic beds.
Key Points. In a 58-page ruling, Judge Sullivan found that the Title 42 policy does not authorize the expulsion of migrants and therefore does not allow for those removed to be denied the opportunity to seek asylum in the U.S. While the ruling applies to families, many of whom are already being allowed to stay in the U.S., if Title 42 does not authorize the expulsion of families one can see the …
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
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