Wells Fargo initiated coverage of Atmus Filtration (ATMU) with an Overweight rating and $24 price target. The firm notes Atmus has a long-standing strong position providing filtration products to global on- and off-highway mobile markets. This should continue to drive revenue for some time. The separation from Cummins (CMI) also positions Atmus to pursue new filtration opportunities in markets previously unserved, Wells argues. Ultimately, a successful pivot is critical to addressing eventual headwinds from powertrain electrification, the firm says.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on ATMU:
- Baird starts Atmus Filtration with Outperform, sees company undervalued
- Atmus Filtration initiated with a Buy at BofA following Cummins spinoff
- Atmus Filtration initiated with an Outperform at Baird
- Atmus Filtration initiated with a Buy at BofA
- Atmus Filtration initiated with an Overweight at JPMorgan