Align Technology price target lowered to $235 from $270 at Piper Sandler

Piper Sandler analyst Jason Bednar lowered the firm’s price target on Align Technology (ALGN) to $235 from $270 and keeps an Overweight rating on the shares. February aligner volumes declined 12% year-over-year and would’ve been closer to – high single digit adjusting for one less day, the firm says. It’s probable weather played a role through canceled appointments/office closures, but there’s no debating that clear aligner demand challenges persisted through February.