Clear Secure Inc (YOU) PT Lowered to $45 at DA Davidson

DA Davidson analyst Wyatt Swanson lowered the price target on Clear Secure Inc (NYSE: YOU) to $45.00 (from $55.00) while maintaining a Neutral rating.

The analyst commented, "We share the latest TSA checkpoint data which indicates August was down 4.4% Y/ Y, a deceleration vs. July volumes of -2.1% Y/Y (and June of -1.3% Y/Y). 3QTD TSA volumes indicate down 2.8% Y/Y (vs. -0.7% Y/Y in 2Q). We also share our updated inhouse wait-time data across major U.S. airports, which encompasses ~hourly security wait-times for the past 2.5 months in an effort to determine changes in congestion despite TSA volumes continuing to fall. Our read is that wait times are muted alongside declining TSA checkpoint volume, which suggests fewer opportunities to sell Clear+ in our view."

You May Also Be Interested In

• Ametek Inc. (AME) PT Raised to $290 at BNP Paribas Exane
• DA Davidson Reiterates Buy Rating on Oracle (ORCL) Following Q1 Print
• PayPal's CEO Is Planning to Go It Alone and Fix the Payments Giant - WSJ