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Fly News Breaks for October 19, 2016
ALGN
Oct 19, 2016 | 09:10 EDT
Morgan Stanley analyst Steve Beuchaw said recent weakness Align Technology's shares due to concerns related to negative dental sentiment, discretionary spending, and a DTC partnership with SmileDirectClub are overblown. Beuchaw's checks indicate a rebound in the macro environment since the spring and increased Invisalign interest despite the entry of DTC aligners. He believes Q3 estimates are achievable and 2017 estimates appear conservative and reiterates his Overweight rating and $114 price target on Align shares.
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