Modine Manufacturing price target raised to $145 from $144 at Oppenheimer

Oppenheimer raised the firm’s price target on Modine Manufacturing (MOD) to $145 from $144 and keeps an Outperform rating on the shares. The firm notes shares traded down Wednesday after Modine beat Q2 top-/bottom-line consensus and reiterated FY25 guidance. Macro-driven volume challenges in legacy, lower margin businesses present a near-term offset to more rapid growth in strategic focus area such as data center, which outperfomed in Q2 and achieved multiple commercial milestones, Oppenheimer says.