BUZZ - CoreCivic shares fall after Democratic senators investigate Minnesota facility deal

November 13 - ** Shares of prison operator CoreCivic (CXW.N) fell more than 2% in early trading, quoted at $30.72.

** Democratic Senator Maggie Hassan (link) has launched an investigation into the Trump administration’s purchase of an immigration detention facility in Minnesota from CoreCivic.

** Senator Hassan questioned the price paid by the government for the facility.

** She also called on CoreCivic to retain communications and documents related to the transaction.

** During Trump’s administration, the crackdown on illegal immigration boosted demand for detention facilities, but recent sweeping Democratic victories in Congress have now cast a shadow over the prospects for prison operators.

** According to data compiled by the London Stock Exchange Group (LSEG), all five brokerages tracking the stock give it a “Buy” rating; the median target price is $42.

** Including today’s gains, the stock is up about 61% year to date.

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