Geo Group price target raised to $42 from $37 at Northland

Northland raised the firm’s price target on Geo Group (GEO) to $42 from $37 and keeps an Outperform rating on the shares. Geo delivered Q4 revenue that was in-line and profitability that missed expectations, but the firm is increasing its target based on the path to an incremental $800M-1B revenue opportunity, reflecting the roughly 17,000 available ICE beds and reasonable expectations for growth in electronic monitoring, the analyst tells investors.