Align Technology price target lowered to $390 from $430 at Stifel

Stifel analyst Jonathan Block lowered the firm’s price target on Align Technology to $390 from $430 and keeps a Buy rating on the shares ahead of the company’s Q3 report, contending that “clearly, the bar for ALGN heading into 3Q23 results is different relative to prior quarters.” Keeping “constant currency revenue guidance” unchanged given the foreign exchange headwind since reporting Q2 results “may be good enough to send the stock higher,” argues the analyst, who adds that management maintaining its FX adjusted 2023 guidance “may be a best case.”