Align Technology price target lowered to $305 from $400 at Jefferies

Jefferies analyst Brandon Couillard lowered the firm’s price target on Align Technology to $305 from $400 and keeps a Buy rating on the shares following Q3 results that “missed on most key metrics.” Q4 guidance calling for case volumes down quarter-over-quarter was “also disappointing” below the Street view, noted the analyst, who expects shares to “open sharply lower.” The stock “may be in the penalty box for a bit,” but at an after-hours price near $190 per share, “valuation is supportive,” the analyst tells investors.