Modine initiated with an Overweight at KeyBanc

KeyBanc analyst David Tarantino initiated coverage of Modine (MOD) with an Overweight rating and $125 price target The firm views Modine as a “highly compelling long-term transformation story.” The shares should re-rate higher as investors better appreciate the company’s organic transformation compounded by data center growth and acquisition opportunities, the analyst tells investors in a research note. KeyBank believes Modine’s transformation is “too compelling to ignore” and the company is “on a path to compounder status.”