Atmus Filtration initiated with a Market Perform at Northland

Northland initiated coverage of Atmus Filtration (ATMU) with a Market Perform rating and $26 price target. The company completed a split off last May from its former parent company Cummins (CMI), which allows Atmus to proactively pursue growth. While the firm likes Atmus’ growth prospects, the looming share exchange Cummins plans to execute to exit its remaining 80.5% stake keeps the firm on the sidelines, the analyst tells investors.