DA Davidson analyst Matt Summerville raised the firm’s price target on Modine Manufacturing to $110 from $90 and keeps a Buy rating on the shares. After meeting with its management, the firm continues to see a “plethora of compelling catalysts” for the company, including synergies with Scott Springfield Manufacturing, differentiated share gains within its core data center business and liquid optionality, and incremental “80/20-driven portfolio optimization”, the analyst tells investors in a research note.
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Read More on MOD:
- Modine Manufacturing to participate in a conference call with DA Davidson
- Modine Manufacturing price target raised to $98 from $88 at B. Riley
- Modine Manufacturing to buy Scott Springfield Manufacturing for $191M
- Modine Manufacturing Expands Portfolio with Strategic Acquisition
- Modine Acquires Scott Springfield Manufacturing, Gaining Air Handling Unit Offering for Strategic Data Center and Indoor Air Quality Markets