Piper Sandler analyst Matt O'Brien raised his price target for Align Technology to $275 from $240 saying the company reported Q4 results that beat on the top- and bottom lines. The real news of the conference call was management removing a "big chunk" of expected revenue from its Q1 outlook as it expects essentially no revenue in February and March in China due to the coronavirus, O'Brien tells investors in a research note. However, the analyst believes management is being "abundantly cautious" and, after speaking with them tonight, is convinced that there is not a "massive degradation of the underlying opportunity in China." As such, he views the issue as transitory for Align and keeps an Overweight rating on the shares. O'Brien views the company as his favorite large cap name.

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."