Align Technology price target raised to $360 from $255 at Piper Sandler

Piper Sandler analyst Jason Bednar raised the firm’s price target on Align Technology to $360 from $255 and keeps an Overweight rating on the shares following the Q4 results. Invisalign volumes finished above expected at 584,000 versus the Street’s 552,000 estimate, reversing what’s been a multi-quarter streak of case volume misses, the analyst tells investors in a research note. Piper says the upside along with improved demand visibility from management and a "welcomed improvement in tone" regarding the stability of the U.S. and European clear aligner markets should remove the overhang of uncertainty on Align’s multiple.