Align Technology price target raised to $360 from $344 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Align Technology to $360 from $344 and keeps an Overweight rating on the shares, which the firm thinks should rise on the Q1 beat and “surprise” FY24 revenue guidance raise. The raised guidance implies a “healthy” second half ramp, which “inherently comes with risks,” but management expressed confidence in market stability and innovation drivers, the analyst tells investors.