UPDATE: Baird Downgrades Align Technology on Valuation Call
In a report published Friday, Baird Equity Research analyst Jeff D. Johnson downgraded the rating on Align Technology (NASDAQ: ALGN) from Outperform to Neutral, but reiterated the $49.00 price target.
In the report, Baird Equity Research noted, “Downgrading ALGN to Neutral is not meant to be a call on the company's 3Q, especially as our intra-quarter checks have been generally positive and we still expect modest upside to our/Street's projections this quarter. Further, we continue to like that management has seemingly gone on the offensive recently in both the high- (G4/SmartTrack) and low-acuity (Express 5/Realine) segments of orthodontics.”
Align Technology closed on Thursday at $47.87.
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