UPDATE: Cantor Fitzgerald Upgrades Align Technology on Improved Volume and Pricing Trends
In a report published Friday, Cantor Fitzgerald analyst Jeremy Feffer upgraded the rating on Align Technology (NASDAQ: ALGN) from Hold to Buy, and raised the price target from $42.00 to $60.00.
In the report, Cantor Fitzgerald noted, “We are upgrading ALGN from HOLD to BUY and raising our price target from $42 to $60 following 3Q results and guidance that allay many of our concerns. After seemingly hitting bottom in 3Q:12, ALGN has taken concrete steps to revitalize its North American GP dentist segment, stabilize/improve pricing, and build a formidable O-U.S. sales and training operation, all of which are paying dividends. With better overall volume trends, the ClearCorrect ITC victory, and the Realine launch, we see plenty of runway for continued outperformance.”
Align Technology closed on Thursday at $45.93.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.