DA Davidson Raises Modine Manufacturing (MOD) Price Target Amid Data Center Focus

Modine Manufacturing Company (NYSE:MOD) ranks among the mid-cap stocks to buy according to top investors. On January 30, DA Davidson boosted Modine Manufacturing Company (NYSE:MOD)’s price target to $255 from $200, maintaining a Buy rating on the stock. The increase reflects Modine’s previously announced PT spinoff/RMT deal and a considerably enhanced data center revenue target for fiscal year 2028.

DA Davidson boosted its optimism on the stock, noting “considerable further rerate potential” as Modine Manufacturing Company (NYSE:MOD) transitions into a pure-play data center company over the coming few years. The firm stated that Modine’s price-to-order rate of conversion “appears impressively high,” with pricing premiums being unchanged across its business.

The same day, KeyBanc Capital Markets boosted Modine Manufacturing Company (NYSE:MOD)’s price objective to $205, noting the company’s plans to spin off its PT segment, describing the move as “a meaningful positive step in the transformation story.” Analyst David Tarantino stated that the spin-off would enable Modine to zero in on “higher growth/margin Climate opportunities, namely Data Center,” which has a better long-term growth trajectory.

Modine Manufacturing Company (NYSE:MOD) operates as a tester, designer, manufacturer, engineer, and seller of mission-critical thermal solutions. The company operates through two segments: Performance Technologies and Climate Solutions.

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Disclosure: None. This article is originally published at Insider Monkey.