Baird starts Atmus Filtration with Outperform, sees company undervalued

As reported previoulsy, Baird analyst Robert Mason initiated Atmus Filtration with an Outperform rating and $24 price target. The firm said Atmus Filtration is a leading filtration technology supplier for heavy-duty engine applications, providing critical protection to high value assets for customers that value uptime. We view the company’s high percentage of resilient revenue, attractive margin/free cash flow profile as undervalued by the market currently while macro-economic conditions may remain uncertain, near-term.