Align Technology rallies after Q4 beat

Shares of dental products maker Align Technology ALGN.O advancing 10% to $177.35 on Thurs after Q4 results surpassed Wall Street's expectations

ALGN hits over six-month high and on track for biggest daily pct gain since Apr

Co late Weds posted Q4 adj EPS of $3.29 and rev of $1.05 bln, topping LSEG estimates, citing strong demand for its dental aligners

For Q1, it sees global rev between $1.01 bln-$1.03 bln, vs analysts' est of $1.02 bln

At least 5 brokerages boosted their PTs, including Morgan Stanley from $154 to $169 and UBS from $175 to $185

Jefferies, which reiterated 'hold' rating, said co noted the macro environment remains dynamic, but management is cautiously optimistic

Median PT of $200.00, up from $175 a month ago, implies ~13% upside from current levels; avg rating among 18 analysts is "'buy" - LSEG

With move on the session, ALGN up 14% YTD vs 2% fall for the Nasdaq .IXIC; stock is ~24% below its 52-wk intraday high of $232.20 reached on Feb 06, 2025

Shares recently traded at about 14x expected earnings, compared to 5-yr avg forward PE of around 30, suggesting they may be undervalued