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UPDATE: JP Morgan Drops PT to $10 on Modine Manufacturing Company

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JP Morgan reiterates its Neutral rating on Modine Manufacturing Company (NYSE: MOD) and cuts its price target from $12 to $10.

JP Morgan notes, "MOD continues to pursue avenues of growth in Asia and South America, along with new platforms in developed markets. Most markets outside of NA are challenged, however, and execution and FX headwinds persist. Our new price target of $10 (from $12) reflects a ~10x multiple on CY2013 EPS of $1.05, discounted back one year; this is a discount to peers due to elevated execution risks."

MOD closed at $5.94 on Monday.

Latest Ratings for MOD

DateFirmActionFromTo
Apr 2014BairdUpgradesNeutralOutperform
Feb 2014Sidoti & Co.Initiates Coverage onNeutral
Jan 2014JP MorganUpgradesUnderweightNeutral

View More Analyst Ratings for MOD
View the Latest Analyst Ratings

Posted-In: JP MorganAnalyst Color Price Target Reiteration Pre-Market Outlook Analyst Ratings

 

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