Wall Street Issues Majority ‘Buy’ Ratings on Align Technology


Jan. 10 2018, Updated 3:51 p.m. ET

Align Technology’s analysts’ recommendations

Align Technology (ALGN) develops 3D digital scanners and clear aligners, which are replacing metal braces in the orthodontics market. ALGN is a global medical device firm headquartered in San Jose, California. In this article, we will take a look at Wall Street analysts’ recommendations and target prices of Align Technology for the next 12 months.

On December 29, 2017, according to 12 investment brokerage firms which were part of a Reuters survey, Align Technology stock has received a “buy” rating from 11 analysts. One analyst rated the company’s stock as a “hold.” ALGN stock did not get any “sell” recommendations.

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Target price

On December 29, 2017, according to the consensus target price provided by Wall Street analysts, the 12-month target price for ALGN stock is $273.73. This target price implies a return potential of ~20.9% for investment in ALGN stock for the next 12 months. This return estimate is based on ALGN’s closing price of $226.48 on December 28, 2017.

Recent recommendation revisions

On November 27, 2017, Morgan Stanley raised its target price on ALGN stock from $257.00 to $300.00 while it maintained the “outperform” rating on the stock. Robert W. Baird reaffirmed its “buy” rating on ALGN stock with a target price of $290.00 per share on November 29, 2017.

On December 29, 2017, Align Technology’s peers Baxter International (BAX), Zimmer Biomet Holdings (ZBH), and Dentsply Sirona (XRAY) had average analysts’ target prices of $68.80, $133.80, and $71.90, respectively, for the next one-year period. These target prices imply a one-year return potential of 6.0%, 10.1%, and 8.3%, respectively.

Investors can consider the Vanguard Mid-Cap Growth ETF (VOT) for diversified investment in Align Technology, which accounts for ~0.92% of VOT’s total holdings.


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