Align Technology Inc

ALGN: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$315.00	Mzhckxg	Mmhqmrqc

Align Earnings: Ends 2023 Stronger Than Expected but Near-Term Challenges Remain

Keonhee Kim

Feb 1, 2024

Narrow-moat Align reported fourth-quarter earnings that were better than our expectations. Total sales were up 6.1% year over year and were helped by solid performance from clear aligners. After rolling our model and updating our near-term assumptions, we maintain our fair value estimate of $316 per share despite the better-than-expected results.

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