Stifel Starts Clear Secure Inc (YOU) at Hold

Stifel analyst Mark Kelley initiates coverage on Clear Secure Inc (NYSE: YOU) with a Hold rating and a price target of $28.00.

The analyst comments "We’re fans of the product, having used Clear Plus for several years, but we’re mixed on the opportunity from here as we see plenty of positives and some potential headwinds going forward. We anticipate continued growth from AMEX as the company works toward its 25% penetration target (~$35mn+ incremental revenue), the business does not mirror the travel industry (a positive given we're back to pre-COVID levels), and there is still an opportunity to expand the U.S. airport footprint and the Platform business. Potential headwinds could come from a lack of international opportunities (mostly RESERVE product for now), and TSA pre-check may be considered “good enough” for some travelers. Lastly, some non-aviation locations have contracted, which could diminish the network effects over time. In all, we’re resuming coverage with a Hold rating and a target price of $28, which aligns with the company’s EV/NTM Sales average over the TTM."

For an analyst ratings summary and ratings history on Clear Secure Inc click here. For more ratings news on Clear Secure Inc click here.

Shares of Clear Secure Inc closed at $25.46 yesterday.

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