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Fly News Breaks for January 31, 2018
ALGN
Jan 31, 2018 | 08:11 EDT
Stifel analyst Jonathan Block noted that Align Technology beat revenue, case volume, and operating profit estimates in Q4, but that management's initial FY18 revenue guidance was in-line with expectations and its margin expansion forecast may have missed consensus by about 50 bps. Given the guidance, the year-to-date gains in the stock and the company's push out of U.S. mandibular approval by six months, the stock may take a "temporary breather," said Block, who also pointed out that his estimates rose throughout FY17 from where they'd started. He keeps his Buy rating and $295 price target on Align Technology shares.
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