Align Technology: Analysts Raise Their Target Prices

Align Technology stock

On May 25, Berenberg increased its 12-month target price on Align Technology (ALGN) from $312 to $340. Yesterday, Leerink and Jefferies raised their target prices for the stock from $305 to $360 and $300 to $350, respectively. The company increased its long-term revenue growth rate target range from 15%–25% to 20%–30% during its investor day on May 23. Align Technology reaffirmed its second quarter and fiscal 2018 guidance.

In a report released on May 22, Stifel Nicolaus raised its target price for Align Technology from $320 to $350. The firm maintained its “buy” rating on Align Technology stock. The increased target price represents a potential investment return of ~15.7% on an investment in Align Technology for the next 12 months. Stifel Nicolaus increased its target price on Align Technology for the third time since the beginning of 2018.

Align Technology: Analysts Raise Their Target Prices

Consensus recommendations

Let’s take a look at analysts’ consensus recommendations on Align Technology for the next 12 months. As of May 23, according to a Reuters survey comprised of 15 brokerages covering Align Technology stock, 80% or 12 of the analysts gave Align Technology “buy” or “strong buy” recommendations, while 20% or three analysts gave “hold” recommendations on the stock. None of the analysts gave a “sell” recommendation.

Target price

As of May 23, analysts’ consensus 12-month target price for Align Technology is 324.1, which implies an upside potential of ~2.2% over an investment in the stock for the next 12 months. The return is based on Align Technology’s closing price of $317 on May 24.

Dentsply Sirona (XRAY), Zimmer Biomet Holdings (ZBH), and Danaher (DHR) have average broker target prices of $59.4, $132.6, and $111.4, respectively. These figures imply returns of 28.5%, 18.7%, and 8.9%, respectively, over the next 12 months.

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