Oppenheimer raised the firm's price target on Modine to $325 from $271 and keeps an Outperform rating on the shares. The firm notes shares gave back a portion of Tuesday's gains after the company's Q4 beat/above-consensus guide, largely on the degree of incrementality in the long-term data center capacity agreement announced Tuesday. From Oppenheimer's perspective, the LTA and execution against increasing demand have pushed Modine's growth trajectory higher, and the firm is raising 2027-2028 estimates as a result.
