Shares of CoreCivic, Inc (CXW) are soaring 5.05% during intraday trading on Friday, following a positive analyst report from Northland Securities. The stock's significant uptick comes as investors react to the reaffirmed confidence in the company's prospects.
Earlier in the day, Northland Securities released a report maintaining its Buy rating on CoreCivic. The firm also reiterated its price target of $32.00 for the stock, signaling strong upside potential from current levels. This vote of confidence from a respected financial institution appears to be driving the bullish sentiment among investors.
The surge in CoreCivic's stock price suggests that market participants are aligning their expectations with the analyst's positive outlook. As trading continues, investors will be watching closely to see if the stock can maintain its momentum and how it might respond to any additional news or broader market trends.