Market Overview

UPDATE: Stifel Nicolaus Raises PT to $38 on Align Technology on Trial Outlook

Related ALGN
Align Technology Surges 5% Amid Credit Suisse Upgrade
Conferences/Events Scheduled for Week of Jun. 9th to Jun. 13th

Stifel Nicolaus reiterated its Buy rating on Align Technology (NASDAQ: ALGN) and raised the price target from $32.00 to $38.00.

Stifel Nicolaus said, "Align's patent infringement trial against ClearCorrect is scheduled to begin today. … With the limited information contained in the public filings, Mr. Lavelle acknowledged it would be difficult to handicap the potential outcome of the trial. That said, he seems to think Align has a strong position, given the broad claims covered by the seven patents being asserted against ClearCorrect as well as Align's prior success with some of these same patents in prior litigation with OrthoClear. Additionally, two of the seven patents were recently re-validated by the United States Patent and Trademark Office (USPTO), which likely mitigates ClearCorrect's ability to claim the patents are invalid."

Align Technology closed at $31.90 on Friday.

Latest Ratings for ALGN

DateFirmActionFromTo
Oct 2014Goldman SachsUpgradesNeutralBuy
Oct 2014Credit SuisseUpgradesNeutralOutperform
Jul 2014JefferiesMaintainsHold

View More Analyst Ratings for ALGN
View the Latest Analyst Ratings

Posted-In: Stifel NicolausAnalyst Color Price Target Analyst Ratings

 

Related Articles (ALGN)

Around the Web, We're Loving...

Get Benzinga's Newsletters