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Fly News Breaks for February 15, 2019
GEO
Feb 15, 2019 | 06:47 EDT
JPMorgan analyst Mark Strouse downgraded Geo Group to Neutral from Overweight and lowered his price target for the shares to $26 from $27. The company reported "mixed" Q4 results and issued fiscal 2019 adjusted FFO guidance below expectations, Strouse tells investors in a research note. The analyst cites the lower than expected outlook, delay of catalysts, and recent outperformance of the stock for his downgrade. However, he continues to believe Geo Group is "somewhat undervalued" and that there could be upside to guidance from share repurchases or new contracts.
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