Jefferies Maintains a 'Buy' on Align Technology (ALGN); Cleared For Takeoff

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Jefferies maintains a 'Buy' on Align Technology (NASDAQ: ALGN) price target raised from $30 to $34.

Analyst, Brandon Couillard, said, "ALGN's 1Q12 adj. EPS of $0.27 was $0.06 (+29%) above consensus on vastly stronger revenue growth and better profitability trends. We are raising our 2012 and 2013 EPS forecasts to $1.10 (from $1.05) and $1.30 (from $1.25), respectively...In the context of what we perceive as >$2 of potential EPS power in 2014, we see room for additional upside as confidence in ALGN's revenue growth & margin expansion goals matures."

For an analyst ratings summary and ratings history on Align Technology click here. For more ratings news on Align Technology click here.

Shares of Align Technology closed at $27.44 yesterday, with a 52 week range of $14.25-$29.65.

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