Noble Financial Remains Bullish on CoreCivic (CXW)

CoreCivic, Inc. (NYSE:CXW) is one of the best small cap stocks with the highest upside. CoreCivic, Inc. (NYSE:CXW) reported on October 2 that it will announce its fiscal Q3 2025 results on November 5, after the market closes.

Ahead of earnings, Noble Financial analyst Joe Gomes reiterated a bullish stance on CoreCivic, Inc. (NYSE:CXW) on October 13, assigning a price target of $28.

In a separate development, CoreCivic, Inc. (NYSE:CXW) announced on October 1 that it has been awarded a new contract under an Intergovernmental Services Agreement (IGSA) between the US Immigration and Customs Enforcement (ICE) and the Oklahoma Department of Corrections (OKDOC).

The contract allows it to resume operations at the company’s 2,160-bed Diamondback Correctional Facility, which has been idle since 2010. Management reported that the commencement date for the new contract is September 30 for a term of five years, and may be extended through bilateral modification.

CoreCivic, Inc. (NYSE:CXW) further reported that the agreement provides for a “fixed monthly payment plus an incremental per diem payment based on detainee populations”. Management expects the total annual revenue to be around $100 million once the facility is fully operational. The company expects to begin receiving detainees in fiscal Q1 2026, and the full ramp is expected to be complete in fiscal Q2 2026.

CoreCivic, Inc. (NYSE:CXW) is a government solutions company involved in the management and development of prisons and other correctional facilities. The company’s operations are divided into the following segments: Safety, Community, and Properties.

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Disclosure: None. This article is originally published at Insider Monkey.