Analyst Vik Chopra of Wells Fargo maintained a Buy rating on Align Tech (ALGN – Research Report), retaining the price target of $255.00.
Vik Chopra has given his Buy rating due to a combination of factors that highlight Align Tech’s strategic positioning and growth potential. The company views the macroeconomic environment as stable, which provides a solid foundation for continued operations. Notably, Align Tech’s broad portfolio is seen as a crucial element of its success, enabling it to explore various growth opportunities while creating a competitive barrier against price-focused competitors.
Furthermore, Chopra points out that Align Tech is experiencing strong growth in the Latin American market, particularly in Brazil, which outpaces North American growth despite pricing challenges. The upcoming launch of the iTero Lumina with advanced scanning capabilities also signifies potential for future growth. Investors appear to have confidence in Align Tech’s ability to rebound, perceiving it as a stock with more upside potential than downside risk as market conditions improve.
Chopra covers the Healthcare sector, focusing on stocks such as Globus Medical, Masimo, and Align Tech. According to TipRanks, Chopra has an average return of 6.6% and a 43.64% success rate on recommended stocks.
In another report released on February 21, Morgan Stanley also maintained a Buy rating on the stock with a $272.00 price target.
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