Modine price target raised to $255 from $200 at DA Davidson

DA Davidson analyst Matt Summerville raised the firm’s price target on Modine (MOD) to $255 from $200 and keeps a Buy rating on the shares. After the company announced Gentherm (THRM) transaction paired with a notably increased data center revenue objective for FY28, the firm is increasingly bullish on the name, informed by considerable further rerate potential, as the company evolves into more of a pure-play data center company over the next couple years, the analyst tells investors in a research note.