Morgan Stanley analyst Erin Wright maintained a Buy rating on Align Tech (ALGN – Research Report) today and set a price target of $249.00.
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Erin Wright has given his Buy rating due to a combination of factors related to Align Technology’s recent strategic developments and financial projections. The company has set more realistic medium-term and long-term financial targets, which include a tempered revenue growth expectation of more than 15% in the long term and 5-15% in the medium term. This adjustment reflects a prudent approach given the challenging macroeconomic environment.
Additionally, Align Technology’s focus on innovation, such as the introduction of new occlusal blocks and advancements in direct fabrication, positions it well for future growth. The company’s strategic initiatives, including the expansion of its Lumina platform and new go-to-market strategies, are expected to drive revenue and margin improvements. These factors contribute to a positive outlook for Align Technology, justifying the Buy rating.