Piper Jaffray analyst Matt O'Brien raised his price target for Align Technology to $300 from $250 and reiterates an Overweight rating on the shares. The maker of the Invisalign system closed yesterday up $1.40 to $253.73. Following a call with an industry expert who runs a dental consultancy, the analyst is more constructive on the competitive advantage of Align's products and business model. Align appears to be the only company that can simultaneously treat complex cases best and produce enough volume to go after "low-hanging fruit on the simple cases," O'Brien tells investors in a research note.The expert told the analyst that there is not a single case Invisalign cannot do today. O'Brien continues to view the company as one of the most compelling growth stories in all of medical technology.

Align Technology announced that it is planning to repurchase $150M of Align's common stock through open market repurchases under Align's $1.0 billion stock repurchase program that was approved by Align's Board of Directors in January 2023.

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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