Align Technology price target lowered to $285 from $315 at Piper Sandler

Piper Sandler lowered the firm’s price target on Align Technology to $285 from $315 and keeps an Overweight rating on the shares. The firm notes September clear aligner case volumes declined 4% year-over-year, bringing Q3 U.S. ortho case volumes to -0.5% per its data set. Those results are mostly stable with the year-over-year performance seen in Piper’s data the last few months, keeping cases tracking roughly in line with its Q3 projections for U.S. The firm likes shares current levels as an entry point for new money, particularly as it doesn’t see Q3 results disappointing vs. consensus and anticipates Street estimates for 2025 will steadily recalibrate to more achievable levels.