Piper says investors should continue to own Align Technology
Align Technology recently entered agreements with the two largest Dental Service Organizations with 2,000 dentists total to supply all locations with an iTero scanner, Piper Jaffray analyst Matt O'Brien tells investors in a research note. The analyst believes Dental Service Organizations will be a larger piece of growth in the U.S. dental market in the coming years as practices consolidate and private equity seeks growth opportunities. Further, he thinks Align will seek more of these partnerships to drive North America growth. O'Brien continues to view Align Technology as one of the most compelling growth names in all of med tech. He says investors should continue to own the stock, "even at the current premium valuation," and keeps an Overweight rating on the name with a $440 price target.