“We expect the stock to be under significant pressure on Thursday, perhaps retesting the lows of last fall,” says William Blair. The “lows of last fall” would be under $200.
Stephens cuts Align’s (NASDAQ:ALGN) price target to a Street-low $200, noting the beginning of a structural shift in the market from an effective duopoly to a contested marketplace.
Evercore’s Elizabeth Anderson downgrades to Inline from Outperform, and slashes her price target to $220 from $340.
Baird pulls Align from its Fresh Pick list.
Previous to today, the Sell-Side Rating on Align has been solidly bullish, with 13 of 18 analysts covering, giving a Buy (or equivalent) rating.
ALGN is down 21% premarket to $217.
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