DA Davidson raised the firm’s price target on Modine Manufacturing to $120 from $110 and keeps a Buy rating on the shares after its Q4 earnings beat. The firm notes that its updated model is reflecting strong organic and acquisitive momentum within its Data Center vertical, complimented by strong Gen Set demand and market share prospects. Data Center growth remains a source of upside optionality as Modine furthers its CDU, or Coolant Distribution Units, development in the near term, the firm added.
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