BUZZ-Align Technology rises after Leerink upgrades to 'outperform'

Reuters
01-06

** Shares of dental products manufacturer Align Technology

up 2.2% at $212.91 premarket

** Brokerage Leerink Partners upgrades stock to "outperform" from "market perform"; raises PT to $280 from $235

** New PT represents a 34.5% upside to the stock's last close

** Brokerage says, "ALGN is the only dental company in our coverage universe that saw double-digit FY24 equipment growth"

** Says it sees better growth for ALGN in FY25, with operational efficiencies boosting further profit beyond FY25

** Brokerage says ALGN's focus on the teen and adolescent market will "fuel growth"

** Integration of 3D printing and manufacturing capacity expansion may enhance margins in the future, though mostly after FY25 - Leerink Partners

** Says any new tariffs under Trump administration could create margin pressure but notes ALGN's plans to shift production between Poland and Mexico to reduce the impact

** ALGN declined ~24% in 2024

(Reporting by Kamal Choudhury in Bengaluru)

((Kamal.Choudhury@thomsonreuters.com;))

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