Guggenheim analyst Glen Santangelo initiated Align Technology with a Buy rating and a price target of $335. The analyst says the stock price has started to recover recently following a 53% peak to trough pullback in Q4, as investors appear to have "digested the concerns around decelerating growth and pricing." With "no meaningful competition on the horizon", Santangelo is retaining his positive view on the "global penetration opportunity" for Align Technology, given the low global penetration for its clear aligners and iTero scanners as well as signs of traction in the company's international market sales efforts.

Stifel raised the firm's price target on Align Technology to $400 from $350 and keeps a Buy rating on the shares. Respondents to the firm's survey point to "solid" 2024 year-over-year case volume growth and while Invisalign's share is expected to step down "modestly" year-over-year, new product feedback is upbeat, says the firm, which adds that it has "an upside bias to our 2024 revenue estimate."