Wells Fargo Starts Align Technology (ALGN) at Overweight

Wells Fargo analyst Vik Chopra initiates coverage on Align Technology (NASDAQ: ALGN) with a Overweight rating and a price target of $255.00.

The analyst comments "Initiating at Overweight given competitive moat. As the market leader in clear aligners with ~2/3 share and strong brand recognition (think Invisalign to clear aligners like Kleenex to tissues and like Band-Aid to bandages), we see a durable and competitive moat. The market also remains underpenetrated with ~22 mil people out of a pool of ~600 mil seeking treatment for malocclusion—we estimate ALGN's penetration is ~10-11%, leaving significant runway for long-term, durable growth."

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 $204.89 yesterday.

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