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Word on the Street: Recommendations and Target Prices on ALGN

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Analysts’ recommendations

Align Technology (ALGN) has reported a strong stock performance recently, with its stock price reaching a 52-week high on May 29.

Since Align’s earnings release on April 25, it has risen ~28.5%. In this article, we’ll take a look at Wall Street analysts’ latest recommendations on its stock.

On May 31, according to a Reuters survey consisting of 15 brokerage companies that cover ALGN, 80% of analysts (or 12) gave the stock “buy” or “strong buy” recommendations. The remaining 20% (or three) gave it “hold” recommendations. The stock has no “sell” recommendations. The chart above shows a 12-month recommendation summary for ALGN stock over the last few months.

Target price

On May 31, Align Technology had a consensus 12-month target price of $327.5, implying a 12-month investment return potential of -1.2%. This return potential is based on ALGN’s closing price of $331.45 on May 30.

Align Technology’s peers Zimmer Biomet Holdings (ZBH), Dentsply Sirona (XRAY), and Henry Schein (HSIC) have average analyst target prices of $132.65, $59.38, and $78.13, respectively. These price targets imply 12-month returns of 15.5%, 30.6%, and 9.1%, respectively.

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Recommendation revisions and updates

On May 25, Credit Suisse raised its target price for ALGN stock from $300 to $340. On the same day, Berenberg increased its target price on Align from $312 to $340. On May 24, Leerink and Jefferies also raised their target prices on Align stock from $305 to $360 and $300 to $350, respectively. These target price revisions followed Align Technology’s Investor Day, which it held on May 23.

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