Home / Business and Economy / Modine Stock Soars: Analysts Bullish on Data Center Cooling
Modine Stock Soars: Analysts Bullish on Data Center Cooling
14 Dec
Summary
- Analyst reaffirmed Buy rating with $200 target price, indicating significant upside.
- All nine covering analysts maintain a Buy rating, showing strong positive sentiment.
- UBS initiated coverage with a Buy rating, citing strong data center cooling market position.
Modine Manufacturing Company is generating considerable excitement on Wall Street, with analysts expressing strong confidence in its future performance. A recent update from D.A. Davidson saw analyst Matt Summerville reaffirm a Buy rating and set an ambitious $200 price target, suggesting a potential upside of over 30% from current trading levels as of December 10. This positive outlook is shared across the board, as all nine analysts covering Modine currently recommend a Buy.
Further bolstering the optimistic sentiment, UBS recently initiated coverage with a Buy rating and a $173 price target. The firm specifically noted Modine's robust standing in providing cooling systems for critical data center infrastructure, including colocation and hyperscale clients worldwide. UBS projects Modine could achieve approximately 15% average annual revenue growth by FY2029, driven by its significant exposure to growing data center markets.
