Matson price target raised to $109 from $108 at Stifel

Stifel raised the firm’s price target on Matson to $109 from $108 and keeps a Hold rating on the shares, stating that the company reported earnings that once again came in above the firm’s expectations before and after the company pre-released earnings a few weeks ago. Given the firm had expected rates to fade, it is raising its 2024 estimates, but notes that the stock has moved into these higher expectations and despite higher numbers Stifel sees “limited upside to numbers from current levels.”