Atmus Filtration price target raised to $29 from $26 at BofA

BofA raised the firm’s price target on Atmus Filtration (ATMU) to $29 from $26 and keeps a Buy rating on the shares after the company reported revenue and margin upside in Q4 and gave initial 2024 guidance above consensus. The firm, which is raising its 2024 adjusted EBITDA and EPS estimates, notes that Atmus’ former parent, Cummins (CMI), launched an exchange offer and contends that a fully subscribed offer would remove the overhang of parent company control and increase Atmus’ public float.