Atmus Filtration initiated with a Buy at Goldman Sachs

Goldman Sachs initiated coverage of Atmus Filtration with a Buy rating and $30 price target. The maker of filtration systems that enable trucks and off-highway machines to efficiently operate at increasingly stringent air emissions levels has “significant competitive moats” given its scaled global market share of 30%-90% in its core products, track record of strong on-time deliveries for critical aftermarket components, and its low product price in the context of risk to an expensive engine, the analyst tells investors.