Modine Advances Pure-Play Transformation, Sees Revenue Upside, Oppenheimer Says

11:01 AM EDT, 10/02/2026 (MT Newswires) -- Modine Manufacturing's (MOD) recent hiring activity and capacity additions should support continued production improvement, while robust demand indicators point to a constructive revenue trajectory, Oppenheimer said in a Friday note. Analysts said the company's higher input cost recoveries could present an upside to its fiscal 2027 revenue guidance. In recent months, the heating, ventilation and air conditioning, or HVAC, sector has faced incremental inflationary pressures from higher commodity prices for copper, steel and diesel, impacting the price of materials and freight costs, Oppenheimer said. Analysts said that the company's peers and Oppenheimer's checks point to ongoing component supply constraints, including for fans, motors, electrical sub-assemblies, and compressors, and higher component input costs. The investment firm said that Modine faces several catalysts coming ahead, including data center expansion, its November analyst day, and mergers and acquisitions activity in its CHVAC segment. Oppenheimer maintained an outperform rating on the stock and cut its price target to $260 from $300. Shares of Modine Manufacturing were up nearly 3% in Friday trading. Price: 179.23, Change: +5.02, Percent Change: +2.88