APLS - Align upgraded at Stephens Novan surges on Cantor's bullish call - in today's analyst action

P_Wei/E+ via Getty Images Clear aligners manufacturers sized up at Stephens Align Technology (ALGN) has added ~1.3% in the pre-market after Stephen upgraded the stock to overweight as a recent analysis of Invisalign App data prompted the firm to conclude a favorable outlook for the company’s revenue growth. Projecting Align to beat Street estimates with its Q2 2021 top-line growth, the analysts led by Chris Cooley have increased the price target to $700.00 from $600.00 per share, implying a premium of ~13.5%. Align could “sustain the favorable top-line growth momentum throughout CY21 as reflected by our above consensus estimates,” Cooley and the team wrote. Align is set to release Q2 2021 results on July 28. Meanwhile, Stephens reiterates the overweight investment rating on Align’s rival, SmileDirectClub (SDC) as they estimate the DIY align manufacturer to sustain a 20 – 30% of organic revenue annual revenue growth with an expansion of adjusted EBITDA margins.

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Align upgraded at Stephens, Novan surges on Cantor’s bullish call – in today's analyst action