Align Technology (ALGN) PT Raised to $105 at Jefferies
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Jefferies analyst Brandon Couillard reiterated a Buy rating and lifted his price target on Align Technology (NASDAQ: ALGN) to $105.00 (from $100.00) following Q3 results.
Couillard commented, "The new i-Tero product cycle drove most of the upside to both 3Q revs & initial 4Q guidance. While ALGN's 4Q Invisalign case volume guidance came in a touch light, order funnels rebounded in October & commentary pointed to ~20%+ growth in early-2017, which should ease concerns of a growth cliff next year. We are raising our 16/17 EPS forecasts by 5% & 3%, respectively. PT to $105 (from $100)."
Shares of Align Technology closed at $87.86 yesterday.
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