Matson price target raised to $160 from $150 at Stifel

Stifel raised the firm’s price target on Matson (MATX) to $160 from $150 and keeps a Hold rating on the shares. Matson reported earnings that were “remarkably strong,” driven by higher margins, the analyst tells investors. However, while Matson’s China rates are gradually decoupling from broader market rates, the firm expects both international and rates on Matson’s China business would decline should containerships normalize movements through the Red Sea, the analyst added.