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Align Technology price target lowered to $170 from $220 at Evercore ISI

Evercore ISI analyst Elizabeth Anderson lowered the firm’s price target on Align Technology (ALGN) to $170 from $220 and keeps an Outperform rating on the shares after Q2 results missed expectations, primarily due to lower case volumes in North America and Europe, and the full-year revenue growth outlook was adjusted to flat-to-slightly up from the prior 3.5%-5.5% forecast. However, the firm highlights a positive trend in equipment sales with “notable growth” driven by the new iTero Lumina launch.

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