Align Technology (ALGN) stock is experiencing a significant surge in the intraday session, with shares soaring 6.07% to become one of the top performers in the S&P 500 index. The dental medical device company's stock is showing strong momentum despite a recent analyst price target adjustment.

According to market data, Align Technology ranks as the fifth-best performing stock in the S&P 500 as of midday, with a 6.0% gain. This places it among other notable risers such as Keysight Technologies, Builders FirstSource, Albemarle Corp, and MGM Resorts International. The broader market is also showing positive movement, with the S&P 500 gaining 0.40% and reaching 6,732.05 points in the same timeframe.

Interestingly, Align Technology's stock is rallying despite Evercore ISI adjusting its price target downward from $220 to $170. However, the firm maintains an Outperform rating on the stock. This suggests that investors may be focusing on other factors or see potential in the company beyond the adjusted target. Overall, analysts polled by FactSet give Align Technology an average rating of overweight with a mean price target of $179.08, indicating continued confidence in the company's prospects despite the day's significant price movement.