JPMorgan ‘incrementally constructive’ on Clear Secure after survey

JPMorgan analyst Paul Chung lowered the firm’s price target on Clear Secure to $30 from $33 and keeps a Neutral rating on the shares. The analyst surveyed 402 adults in the U.S. to determine the strength of the Clear brand, utilization trends, American Express platinum benefit penetration, and overall consumer sentiment. The firm is "incrementally constructive" citing better than expected Clear+ membership trends, high customer satisfaction rates, and the company’s "complementary" relationship relative to Transportation Security Administration Pre Check. JPMorgan also updated its model slightly to reflect higher operating estimates.