Modine's Strong Position In Data Center And EV Component Markets Compels Analyst To Boost Price Target
Portfolio Pulse from Nabaparna Bhattacharya
DA Davidson analyst Matt J. Summerville reiterated a Buy rating on Modine Manufacturing Company (NYSE:MOD) and raised the price target to $43 from $38. The analyst is bullish on the company's growth in data center and EV component markets, with targeted 5-year organic growth CAGRs of 15%-25% and 40%-50%, respectively.
June 23, 2023 | 5:52 pm
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DA Davidson analyst raises Modine Manufacturing's price target to $43, citing strong growth in data center and EV component markets.
The analyst's bullish stance on Modine Manufacturing's growth in data center and EV component markets, along with the raised price target, indicates a positive short-term impact on the stock price. The targeted 5-year organic growth CAGRs of 15%-25% for data center business and 40%-50% for EV components business further support this outlook.
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