JPMorgan cuts Atmus Filtration target, says selloff an overreaction

JPMorgan analyst Tami Zakaria lowered the firm’s price target on Atmus Filtration (ATMU) to $67 from $70 and keeps an Overweight rating on the shares. The analyst says Atmus Filtration shares sold off 17% following a “relatively in-line” earnings report. Feedback from investors suggests skepticism that the company’s full-year guidance may be at risk, the analyst tells investors in a research note. JPMorgan views the post-earnings selloff as an overreaction but reduced estimates following the report.