** KeyBanc Capital Markets initiates coverage on Modine Manufacturing MOD.N with 'over-weight' rating; sets PT at $125, which is premium of 32.8% from stock's last close
** Brokerage says co's overall growth has been modest recently, but robust data centre tailwinds and upcoming exit from automotive business provides additional leverage in achieving long-term growth
** "We believe MOD's data center cooling portfolio positions the company to not only capitalize on the strong end market growth, but also to become a leader in the space over time by leveraging its best-in-class portfolio," KeyBanc says
** Notes co's more resilient cash flow and strong balance sheet allows for ample capital deployment opportunities in future
** Six of seven brokerages rate stock "buy" or higher, one "hold" ; their median PT is $127.50 - data compiled by LSEG
** As of last close, stock down 18.8% YTD
(Reporting by Apratim Sarkar)
((Apratim.Sarkar@thomsonreuters.com))
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