GEO Price Prediction Next Week
Analysis and Insights
News Impact:
The GEO Group has secured a contract with U.S. Immigration and Customs Enforcement (ICE) to activate a 1,800-bed federal immigration processing center in Michigan, expected to generate over $70 million annually. This contract highlights GEO's long-term partnership with ICE and its role in federal immigration enforcement, which is likely to positively impact investor sentiment and revenue stability.
Technical Analysis:
GEO's stock is currently trading at $28.98, showing a bullish trend with a Relative Strength Index (RSI) of 64.92, indicating moderate buying pressure. The MACD is slightly bearish but nearing a bullish crossover, suggesting potential upward momentum. Fibonacci resistance levels are at $28.69 (R1) and $30.39 (R2), with the stock approaching the first resistance level.
Price Prediction and Recommendation:
Based on the positive news and technical indicators, GEO's stock is expected to reach $30.39 in the next trading week. The bullish momentum and contract news suggest a BUY recommendation.
GEO Similar Chart Price Prediction
The price of GEO is predicted to go up -9.02%, based on the high correlation periods with GTLS. The similarity of these two price pattern on the periods is 91.99%.
GEO
GTLS
Down: -9.02%Similarity: 91.99%
GEO Revenue Forecast
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GEO Analyst's Forecast
Joe Gomes
Noble Capital Markets
Buy → Hold
2024-11-11
Price Target
n/a
Downside
0%
Noble Capital downgraded Geo Group 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."
Greg Gibas
Northland Capital Markets
Buy
2024-11-08
Price Target
$16 → $37
Upside
+45.9%
