Align Technology last night delivered a strong quarter beating on both the top and bottom lines, Piper Jaffray analyst Matt O'Brien tells investors in a research note. While the company's North American performance was solid, the standout was international as strength in Asia Pacific, driven by Japan and China, lead to a beat, says the analyst. He believes Align has the best products in the clear aligner market and that its investment into the business "should translate into healthy growth in the coming years." O'Brien reiterates an Overweight rating on Align Technology with a $240 price target.

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."