Modine Manufacturing price target raised to $110 from $105 at Oppenheimer

Oppenheimer raised the firm’s price target on Modine Manufacturing to $110 from $105 and keeps an Outperform rating on the shares. The firm notes shares rallied Wednesday from early lows after Modine delivered mixed Q4 results and FY25 guidance vs. consensus. Discrete top-line growth drivers remain intact, including 30%-35% data center organic CAGR, double digits growth in gensets, EV program ramps, and M&A complementing organic growth, which Oppenheimer anticipates inflecting positively on a total company basis in Sep-quarter. Meanwhile, EBITDA and margin trajectory continue to outpace Street expectations, with mix, scale, and 80/20 optimization levers supporting a narrowing of margin gap vs. large HVAC comps, the firm adds.