Stifel analyst Jonathan Block notes that the firm’s checks identify an upcoming program that Align Technology (ALGN) will soon launch with Costco (COST). The firm expects the new sales initiative to be announced imminently and take hold in late July. The firm’s diligence suggests the program will be specific to Costco’s online sales, and offer Costco members the opportunity to purchase an e-card for $100 from Costco.com and in return get a $400 credit toward Invisalign treatment, as well as an Invisalign Essential Bundle, notes the analyst, who views the program favorably as Align redirects a small subset of its annual advertising spend and may effectively reach new customers. The firm maintains a Buy rating and $400 price target on Align shares.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ALGN:
- Early notable gainers among liquid option names on June 26th
- Align Technology price target lowered to $330 from $375 at Piper Sandler
- Align Technology price target lowered to $300 from $370 at Evercore ISI
- 3D Systems contract ‘not as bullish as it appears,’ says Craig-Hallum
- Align Technology downgraded to Mixed from Positive view at OTR Global
Questions or Comments about the article? Write to editor@tipranks.com