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S&P 500: 1,340.35 Change: -0.84%
rjm77me
P&P Score: 99.93 | Points: 766.53 | Accuracy: 81.25 | Average Pick Score: 1.18   Annual Return: N/A  
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BUY: CORNELL COMPANIES (CRN)
Start Price: $24.73
Points: -12.93
Created: 01/13/2010
This is what made me buyer
Cornell tgt raised to $36 at Avondale Partners after receiving the CAR X from BOP (24.51 +1.55) : Avondale Partners notes that yesterday afternoon, Cornell Companies was awarded Criminal Alien Requirement X from the Federal Bureau of Prisons (BOP). The firm believes that this is a substantial positive for CRN as it results in filling 700 beds in its inventory and increases the per diem on 1,700 beds by approximately $10. As a result, the co is adjusting their 2010E EPS to $1.45 from $1.85 (consensus $1.92) to reflect the transition at the facility and establishing a 2011E EPS of $2.20 (consensus $2.20), nearly 20% growth from their prior 2010E EPS. The firm is also raising their price target to $36 from $31, which the firm notes still reflects more conservative multiples than its peers.

1 Comment(s):

Author rjm77me     Date 2010-02-25 08:21:11
take loss
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