Align Technology price target raised to $375 from $355 at Piper Sandler

Piper Sandler analyst Jason Bednar raised the firm’s price target on Align Technology to $375 from $355 and keeps an Overweight rating on the shares. The firm notes Align reported a healthy Q1 beat, including revenue and EPS of $997M and $2.14 vs. Street’s $975M and $1.97. Management also provided above-Street Q2 guidance and raised its full-year outlook, it’s clear that iTero Lumina is off to a strong start, and management reinforced its view of end-market stability. Those are all fairly encouraging developments, especially in the context of mixed data points from other consumer discretionary companies in recent weeks, and are collectively helping shares move higher after-hours, Piper says.