BofA raised the firm’s price target on Align Technology to $215 from $180 and keeps an Underperform rating on the shares after the company reported Q4 sales 2% ahead of consensus and adjusted EPS that was 11% ahead. While the Q4 result and initial 2024 guidance was better than some had expected, the firm notes that its model remains largely unchanged and it doesn’t believe there’s enough evidence that Align can return to the high level of growth and profitability from prior years.
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