Align Technology price target raised to $200 from $190 at Piper Sandler

Piper Sandler analyst Jason Bednar raised the firm’s price target on Align Technology (ALGN) to $200 from $190 and keeps an Overweight rating on the shares. Shares of Align have been out-of-favor with investors since the Q2 print, in part because of revenue visibility challenges the business had encountered, but also due to an implied Q4 revenue ramp that looked challenging based on historical seasonality, the firm notes. But Q3 cured both of those ills as management delivered broad volume upside in the period, which has the effect of also shortening the putt to hit the originally implied Q4 targets, adds Piper.