Matt Summerville, an analyst from D.A. Davidson, maintained the Buy rating on Modine (MOD – Research Report). The associated price target remains the same with $135.00.
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Matt Summerville has given his Buy rating due to a combination of factors that highlight Modine’s strong financial performance and strategic positioning. The company reported a robust quarter, surpassing expectations in revenue and all key operating metrics, including adjusted operating profit, EBITDA, and EPS. This financial strength is further supported by their guidance for fiscal year 2026, which aligns closely with D.A. Davidson’s revised projections, particularly in terms of EBITDA expectations.
Moreover, Modine’s data center segment is experiencing significant growth, with the company gaining market and wallet share in North America by leveraging advanced chiller technology. The Performance Technologies segment also showed solid profitability under current leadership, despite a year-over-year revenue hit. The potential for divestitures and additional restructuring efforts could further enhance profitability. Overall, the company’s strong balance sheet, with low net leverage, and the potential for continued growth in the climate and data center businesses underpin the Buy rating, with a price target of $135.
MOD’s price has also changed moderately for the past six months – from $133.650 to $105.570, which is a -21.01% drop .