HALISTER1: Align Tech Indicated Higher; BofAML Sees Growth in Orthodontics

Align Tech Indicated Higher; BofAML Sees Growth in Orthodontics

(Bloomberg) -- Align Technology indicated $163.00-$168.81 pre-market vs $157.26 close after BofAML analyst Steven Valiquette upgraded to buy from neutral (PT $193 from $175), estimating its penetration in the global orthodontic market can grow to 12%-13% by 2020 from 7% today.
  • Sees EPS approaching $7.00 in 2020
  • Says the Invisalign growth story "may still be in its infancy"; clear aligners still have a long runway to take market share away from traditional metal "bracket and wire" braces which dominate the market, and ALGN will likely reap the benefits for years to come
  • ALGN still inexpensive compared to peers
  • NOTE: July 27, ALGN 3Q EPS View Midpoint Tops Est.; Shares Rise 2.9%
To contact the reporter on this story: Tatiana Darie in New York at tdarie1@bloomberg.net To contact the editors responsible for this story: Arie Shapira at ashapira3@bloomberg.net Scott Schnipper

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
ALGN US (Align Technology Inc)

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Steven Valiquette (Bank of America Corp)

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