DA Davidson Raises Modine Manufacturing (MOD) Price Target Amid Data Center Focus

Core Viewpoint - Modine Manufacturing Company (NYSE:MOD) is recognized as a promising mid-cap stock by leading investors, with recent price target increases from DA Davidson and KeyBanc Capital Markets reflecting positive sentiment regarding its transformation into a data center-focused company [1][3]. Group 1: Price Target Increases - DA Davidson raised Modine's price target to $255 from $200, maintaining a Buy rating, which is influenced by the company's PT spinoff and enhanced data center revenue targets for fiscal year 2028 [1]. - KeyBanc Capital Markets increased its price objective to $205, highlighting the spin-off of the PT segment as a significant positive step in Modine's transformation [3]. Group 2: Business Transformation - DA Davidson noted that Modine has "considerable further rerate potential" as it transitions into a pure-play data center company, with a high price-to-order rate of conversion and stable pricing premiums across its business [2]. - The spin-off of the PT segment is expected to allow Modine to focus on higher growth and margin opportunities in the Climate sector, particularly in Data Centers, which have a favorable long-term growth trajectory [3]. Group 3: Company Overview - Modine Manufacturing Company operates as a tester, designer, manufacturer, engineer, and seller of mission-critical thermal solutions, functioning through two segments: Performance Technologies and Climate Solutions [4].