DA Davidson bullish on Modine prospects

DA Davidson keeps a Buy rating and $265 price target on Modine (MOD) after meeting with its management team but notes that the firm has come away “quite bullish on a number of fronts” following the discussion. The company’s datacenter funnel aperture has tripled or more since its September 2024 analyst day informing its targeted growth rates through FY28, the analyst tells investors in a research note. The firm adds that it sees potential for significant incremental growth vectors from certain hypers, non-U.S. DC proliferation, and further non-data center inorganic deployment.