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Fly News Breaks for January 31, 2018
MOD
Jan 31, 2018 | 13:07 EDT
Baird analyst David Leiker attributes the post-earnings selloff in shares of Modine Manufacturing to an "apparent" lack of operating leverage. However, he believes that view is misplaced and sees the stock being supported by a cyclical recovery in the company's end markets, the growing pace of new contract awards and expected margin improvement from cost actions. He keeps an Outperform rating on Modine and raised his price target on the shares to $31 from $25, calling the selloff a buying opportunity.
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