Geo Group downgraded to Market Perform from Outperform at Noble Capital

Noble Capital downgraded Geo Group (GEO) to Market Perform from Outperform after shares rose nearly 68% from Tuesday’s close, “blasting through” the firm’s $17 price target on the Trump win. Funding will be key to achieving any significant expansion of detention and/or supervision numbers and “circumstances have a way of thwarting Presidential ambitions,” says the analyst, who believes “a period of consolidation is likely until actual specifics are determined.”