On August 12, Modine Manufacturing rose 6.27% in regular trading, trading at $209.87/share, with turnover of $18.95 million, extending the prior session's 5%+ advance.

The rally is driven by a dual catalyst: the company's first-quarter adjusted EPS of $1.53 beat the consensus estimate of $1.29 by 18.6%, representing a 44.34% year-over-year increase. Revenue came in at $874.1 million. Additionally, Modine previously signed a long-term agreement with a strategic data center customer to supply more than $4 billion worth of Airedale cooling products between 2027 and 2029, with the customer providing a $165 million upfront payment to fund capacity expansion.

UBS projects Modine's data center business could generate over $4 billion in revenue by fiscal 2029, roughly quadrupling current levels, and reiterated a Buy rating with a $355 price target. Oppenheimer raised its target to $325, citing 50%-70% data center revenue growth expected in fiscal 2028. The company guided full-year adjusted EBITDA of $650 million to $680 million.

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