Modine Manufacturing price target raised to $80 from $60 at DA Davidson

DA Davidson raised the firm’s price target on Modine Manufacturing to $80 from $60 and keeps a Buy rating on the shares after meeting with its management team. The discussion has left the firm with heightened conviction that Modine shares still possess material room to re-rate further thanks to the ongoing EBITDA margin expansion, growing ‘in the right places’, and balance sheet optionality, the analyst tells investors in a research note.