I wonder, are there any good tools for translating COBOL into something else? There must be at least some demand? Wouldn't that be a good approach in some cases

I wonder, are there any good tools for translating COBOL into something else? There must be at least some demand? Wouldn't that be a good approach in some cases? (I suppose it requires longer-term thinking, and is sometimes simply not possible in a business context, etc.)