Align Technology price target raised to $355 from $335 at Piper Sandler

Piper Sandler raised the firm’s price target on Align Technology to $355 from $335 and keeps an Overweight rating on the shares. The firm notes U.S. clear aligner volumes grew year-the-year, the first time since late 2021 in its monthly analysis of orthodontic data. The growth itself was solid, and the month-over-month performance was also better than Piper has seen historically. Noting that it still needs to see March data to confirm the quarter closed in good shape as well, the firm says that with two months in hand and the latest data from February quite good, it is comfortable in beginning to make a stronger call for Align to deliver revenue at least at the upper-end of management’s $960M-$980M revenue guidance for Q1.