Leerink analyst Richard Newitter lowered his price target for Align Technology to $285 from $300 following quarterly results. The analyst reiterates an Outperform rating on the shares as he continues to believe the company can sustain 20%-plus revenue and 18%-plus op profit growth, and as he thinks the stock should see its valuation discount relative to high growth peers narrow given above-average revenue and op profit growth prospects through 2020.

Morgan Stanley raised the firm's price target on Align Technology to $360 from $344 and keeps an Overweight rating on the shares, which the firm thinks should rise on the Q1 beat and "surprise" FY24 revenue guidance raise. The raised guidance implies a "healthy" second half ramp, which "inherently comes with risks," but management expressed confidence in market stability and innovation drivers, the analyst tells investors.

Baird raised the firm's price target on Align Technology to $370 from $333 and keeps an Outperform rating on the shares. The firm said the higher forward guide should especially be well-received given March consumer spending/ortho demand uncertainties, and while visibility over the next few quarters admittedly remains limited by macro, the company's consistency is improving.

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