The Senate version of the “One Big Beautiful Bill Act” aligns with the House version when it comes to spending on immigration, and the proposal should be beneficial to both CoreCivic (CXW) and Geo Group (GEO), Noble Capital tells investors in a research note. Current indications are there will be a significant funding increase for immigration enforcement which likely will lead to increased demand for detention capacity, with both Outperform-rated CoreCivic and Geo well-positioned to capitalize on the increased demand for their services, the firm says.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CXW:
- Closing Bell Movers: Progress Software slips 4% after earnings
- CoreCivic initiated with a Buy at Texas Capital amid immigration policy tailwind
- CoreCivic initiated with a Buy at Texas Capital
- CoreCivic to acquire Farmville Detention Center for $67M
- CoreCivic Stockholders Meeting Elects Board and Ratifies Auditor