Northland upgraded Atmus Filtration (ATMU) to Outperform from Market Perform with a $34 price target after Cummins (CMI) accepted an aggregate of 5,574,051 shares of Cummins common stock in exchange for 67,054,719 shares of Atmus common stock. The share exchange overhang is now lifted and the firm thinks investors are starting to realize Atmus’ business resiliency, margin expansion opportunities, and growth initiatives, the analyst tells investors. The firm thinks Atmus is well positioned to “meet and eventually exceed” higher expectations, the analyst added.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on ATMU:
- Atmus Filtration Announces Completion of Exchange Offer
- Atmus Filtration announces separation from Cummins
- Short Report: Bearish positions reduced after contrasting C3.ai and Figs results
- Atmus Filtration (NYSE:ATMU): A Value Stock with a Slow-and-Steady Approach
- Atmus Filtration price target raised to $29 from $26 at BofA