Corrections Corp of America (NYSE:CXW)
CAPS Rating:
The Company is an owner and operator of privatized correctional and detention facilities and prison operator in the United States behind only the federal government and three states.
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This is a macro bet; CXW is the largest public prison operator in the US and we have a huge backlog in new prisons. Given the budget troubles of virtually every state in the union bad news may be in the cards in the short term for this company, but it has already been hit hard and is attractively valued for a long term outperform.