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

Modine Manufacturing Company (NYSE:MOD) ranks among the mid-cap stocks to buy according to top investors. On January 30, DA Davidson boosted Modine Manufacturing Company (NYSE:MOD)’s price target to $255 from $200, maintaining a Buy rating on the stock. The increase reflects Modine’s previously announced PT spinoff/RMT deal and a considerably enhanced data center revenue target for fiscal year 2028.

DA Davidson boosted its optimism on the stock, noting “considerable further rerate potential” as Modine Manufacturing Company (NYSE:MOD) transitions into a pure-play data center company over the coming few years. The firm stated that Modine’s price-to-order rate of conversion “appears impressively high,” with pricing premiums being unchanged across its business.

The same day, KeyBanc Capital Markets boosted Modine Manufacturing Company (NYSE:MOD)’s price objective to $205, noting the company’s plans to spin off its PT segment, describing the move as “a meaningful positive step in the transformation story.” Analyst David Tarantino stated that the spin-off would enable Modine to zero in on “higher growth/margin Climate opportunities, namely Data Center,” which has a better long-term growth trajectory.

Modine Manufacturing Company (NYSE:MOD) operates as a tester, designer, manufacturer, engineer, and seller of mission-critical thermal solutions. The company operates through two segments: Performance Technologies and Climate Solutions.

While we acknowledge the potential of MOD to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than MOD and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.