Roth Capital Reiterates Buy On Align Technology Shares, $66 PT
In a research report issued today, Roth Capital analyst Chris Lewis reiterated a Buy rating on Align Technology (NASDAQ:ALGN) with a price target of $66.
Lewis said, “ALGN reported 3Q results above expectations. While 4Q revenue and EPS guidance came in a bit light, we believe this is primarily attributable to fx headwinds and management’s typical conservatism. We are encouraged with the better-than-expected 4Q volume guidance, particularly as it implies a stabilization and potential re-acceleration in NA and continued International momentum. We view ALGN’s current risk-reward as favorable and would become increasingly aggressive at $46-47 per share (~20x 2015 EPS, ex- cash).”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Chris Lewis has a total average return of -8.2% and a 35.9% success rate. Lewis has a 0.3% average return when recommending ALGN, and is ranked #3223 out of 3343 analysts.