Bear of the Day: Align Technology (ALGN)
by Zacks Equity ResearchDecember 12, 2012 | Comments : 0 Recommended this article: (0)
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The news of job cuts and higher management churn, accompanied with the termination of the European distribution contract also add to our concern. These factors led to a downward rally in the stock price that reached its 52-week low last week.
We also fail to see any major catalyst that could revive the shares. Accordingly, we downgrade the stock and lower our revenues and EPS estimates for fiscal 2012 and 2013.
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