Matson price target raised to $102 from $90 at Stifel

Stifel raised the firm’s price target on Matson to $102 from $90 and keeps a Hold rating on the shares after the company pre-released earnings that came in materially better than the firm and the Street had expected. The results serve as further evidence that Matson will be able to maintain premium pricing for expedited volume, but the firm still thinks there is downward pressure in the container market given the large orderbook, the analyst tells investors.