Modine Manufacturing Company shares are trading higher after the company reported better-than-expected Q1 financial results and revised FY24 net revenue outlook. Additionally, ET Hutton raised its price target from $34 to $45 on the stock.
Portfolio Pulse from Benzinga Newsdesk
Modine Manufacturing Company reported better-than-expected Q1 financial results and revised its FY24 net revenue outlook upwards. ET Hutton also raised its price target for the company's stock from $34 to $45.
August 04, 2023 | 2:10 pm
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POSITIVE IMPACT
Modine Manufacturing's better-than-expected Q1 results and revised FY24 revenue outlook, along with ET Hutton's increased price target, are likely to positively impact the company's stock price in the short term.
Modine Manufacturing's strong Q1 results and upward revision of its FY24 revenue outlook indicate a positive financial performance. This, coupled with ET Hutton's increased price target, suggests a positive market sentiment towards the company, which is likely to drive its stock price up in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100