Modine initiated with a Buy at UBS

UBS initiated coverage of Modine (MOD) with a Buy rating and $173 price target The company makes cooling systems for hyperscale, colocation and neocloud customers globally, the analyst tells investors in a research note. The firm says Modine’s increasing data center exposure supports continued upside to the shares. UBS believes sustained double-digit sales growth could be a catalyst for a re-rating in the stock’s valuation.