DA Davidson analyst Matt Summerville raised the firm’s price target on Modine Manufacturing to $90 from $80 and keeps a Buy rating on the shares after its Q3 earnings beat. The firm is positive on the company’s combination of 80/20-led “growth in the right places”, structural improvements across both Climate Solutions and Performance Technologies segments, and ongoing portfolio optimization initiatives, inclusive of divestitures and ongoing, margin/profit-accretive revenue attrition, the analyst tells investors in a research note.
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