Modine Manufacturing price target raised to $35 from $28 at DA Davidson

DA Davidson raised the firm’s price target on Modine Manufacturing to $35 from $28 and keeps a Buy rating on the shares. The firm’s discussion with the company management has left it with "heightened confidence" in the outlook for Modine Manufacturing in FY24, the analyst tells investors in a research note. DA Davidson adds that the number and the overall magnitude of "needle-moving" organic growth opportunities for the stock remains underappreciated while offering an "effective hedge" against macro slowing.