Jefferies Lifts Price Target On Align Technology (ALGN) After Q3

Jefferies raised its price target on Buy-rated Align Technology (NASDAQ: ALGN) from $21 to $23 after Q3 results.

The firm comments, "ALGN's 3Q11 adj. EPS was $0.08 (+42%) above consensus on vastly stronger revenue growth and better profitability trends. We are raising our 2011 and 2012 EPS forecasts to $0.89 (from $0.77) and $1.03 (from $0.95), respectively. Our PT moves to $23 (from $21) on higher cash flow forecasts."

For more ratings news on Align Technology click here and for the rating history of Align Technology click here.

Shares of Align Technology closed at $17.81 yesterday, with a 52 week range of $14.25-$25.94.

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