Align Technology price target lowered to $272 from $280 at Morgan Stanley

Morgan Stanley analyst Erin Wright lowered the firm’s price target on Align Technology (ALGN) to $272 from $280 and keeps an Overweight rating on the shares. Some may interpret the Q4 report and initial Q1 guidance as “mixed,” but the firm was “actually pleased with the 4Q volume and margin upside,” the analyst tells investors. Contending with foreign exchange, initial FY25 guidance is calling for low-single digit revenue growth, but the target is in line with the Street when excluding forex, notes the analyst, who calls mid-single digit volume growth “an encouraging start.”