Stock outperformance on the horizon for Align Technology (ALGN) claims Stifel
The Align Technology (NASDAQ:) price target was raised to $430 from $390 at Stifel on Thursday, with analysts maintaining a Buy rating on the stock.
The firm sees “stock outperformance on the horizon,” according to the analysts in a research note.
“Recent diligence increases our conviction that Align’s stock can outperform the market for the balance of 2H23 and into 2024,” the analysts wrote.
“We believe the upcoming Analyst Day can serve as a catalyst as the company better details its near-term (palatal / reduced anterior attachments) and long-term (direct 3D printing) pipeline,” they added.
Stifel noted that when they look at the current business, Google (NASDAQ:) Trends imply the third quarter is off to a “fairly solid start.”
Meanwhile, its “Angelalign analysis suggests China Invisalign volumes may act as a tailwind” relative to Stifel’s WW Invisalign expectations.
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