KeyBanc Upgrades Modine Manufacturing (MOD) to Buy
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KeyBanc upgrades Modine Manufacturing (NYSE: MOD) from Hold to Buy with a $17 price target. The firm believes the shares have found a bottom and now represent an attractive investment proposition.
The firm cited, "our perception of hidden value in several of its business units (e.g., Europe), its leverage to the postponed, but eventual, rebound in the North American Class 8 truck market, and structural newsflow that we believe is poised to become increasingly positive in the wake of a number of "slate-clearing" items reported within its most recent quarterly earnings announcement."
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