Align Technology (ALGN) Stock Coverage Started at Credit Suisse
NEW YORK (TheStreet) -- Align Technology (ALGN) - Get Report stock coverage was initiated with an "outperform" rating by analysts at Credit Suisse in a note issued to investors this morning.
The firm, which has a $84 price target on the stock, said the company's growing portfolio of patented technologies should drive rapid revenue growth with profitability rising faster on a scalable cost basis.
Other catalysts include improving clinical awareness and consumer sentiment.
"With no outstanding debt and a low tax rate, long term annual EPS growth of 20% is likely," analysts said.
Shares are declining 0.16% to $76.44 on Wednesday.
Based in San Jose, Align Technology makes Invisalign invisible dental braces.
Separately, TheStreet Ratings currently has a "Buy" rating on the stock with a letter grade of A-.
The company's strengths can be seen in multiple areas, such as its increase in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance and growth in earnings per share. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.
You can view the full analysis from the report here: ALGN
