Align Technology Inc

ALGN: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$893.00	Fngqpp	Zdszclbx

Narrow-Moat Align Ends 2022 as Expected Despite Tough Comparisons Against 2021; FVE Remains $311

Keonhee Kim

Feb 2, 2023

Narrow-moat Align Technology reported fourth-quarter earnings that were on track with our assumptions. We maintain our fair value estimate of $311 per share, with slight near-term downturn effects offset by time value of money.

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