Modine Manufacturing initiated with an Outperform at Oppenheimer

Oppenheimer initiated coverage of Modine Manufacturing with an Outperform rating and $105 price target. Modine’s core competencies in thermal management and product innovation, along with a clear focus on value creation, should drive accretive growth, says the analyst, who sees multiple catalysts to support positive estimate revisions and a further re-rating of the stock’s multiple. These include data center expansion and diversification, EV systems scaling and Climate Solutions M&A, the analyst tells investors.