Fly News Breaks for March 5, 2020
Mar 5, 2020 | 08:35 EDT
Stifel analyst Jonathan Block noted that Align Technology, in conjunction with its announcement of the acquisition of exocad, reiterated its Q1 guidance, which he believes will be viewed positively given that COVID-19 data from the dental community has worsened over the last several weeks. In terms of the deal, he thinks exocad should help strengthen Align's end-to-end digital platform and help iTero get into more General Practitioners and ultimately sell more clear aligners in the "very underpenetrated" Adult aesthetic market. The analyst, who likes the acquisition strategically, keeps a Buy rating and $305 price target on Align shares.
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