United Air shares close little changed on Monday, air carrier acquires stake in security identity firm Clear

United Airlines Holdings Inc (UAL) said that it would buy a stake in security identity firm Clear as part of a partnership aimed at increasing the number of biometric screening kiosks in airports across the United States. The tie-up also aims to facilitate passenger movement through airports.

United Air shares closed higher for the eighth time in the past thirteen trading sessions on NASDAQ on Monday. The stock edged up 0.09% ($0.08) to $93.44, after touching an intraday low at $93.13, or a price level not seen since July 25th ($92.96).

Shares of United Airlines Holdings Inc have risen 11.60% so far in 2019 compared with a 20.51% gain for the benchmark index, S&P 500 (SPX).

In 2018, United Air’s stock went up 24.23%, thus, it outperformed the S&P 500, which registered a 6.24% loss.

Under the partnership, biometric screening kiosks by Clear are expected to be added at United Airs hub airports such as Houston International, Chicago O’Hare and Newark Liberty. Other United Airs US hub airports, where Clear has already been added, include those in San Francisco, Los Angeles, Denver and Washington, D.C.

“Our shared focus on the customer experience will enable us to reduce friction at every touch point and help travelers enjoy more of what they love,” Caryn Seidman-Becker, Clear’s Chairman and Chief Executive Officer, said in a statement, cited by CNBC.

Clear has steadily expanded its presence since its establishment in 2010 and currently has kiosks for passenger identification at over 30 airports across the United States.

Delta Air also owns a stake in the security identity company.

Analyst stock price forecast and recommendation

According to CNN Money, the 18 analysts, offering 12-month forecasts regarding United Air’s stock price, have a median target of $110.00, with a high estimate of $140.00 and a low estimate of $94.00. The median estimate represents a 17.72% upside compared to the closing price of $93.44 on July 29th.

The same media also reported that at least 14 out of 22 surveyed investment analysts had rated United Air’s stock as “Buy”, while 6 – as “Hold”. On the other hand, 1 analyst had recommended selling the stock.