Matson price target raised to $175 from $165 at Stephens

Stephens raised the firm’s price target on Matson (MATX) to $175 from $165 and keeps an Overweight rating on the shares after the company reported “strong” Q4 results and said it expects that even with the Red Sea situation normalizing by mid-2025, ocean operating income would only be “moderately lower” year-over-year. The firm thinks the setup remains favorable as it expects a secular shift from the airfreight market will continue, the analyst tells investors.