Jefferies Starts Matson, Inc. (MATX) at Buy

Jefferies analyst Omar Nokta initiates coverage on Matson, Inc. (NYSE: MATX) with a Buy rating and a price target of $125.00.

The analyst comments: "We initiate on Matson with a Buy and $125 target. The shares have corrected, setting up a compelling buying opportunity. Recent focus has been on lower US import volumes, which have been reflected already by declining container rates since February. Spot rates, however, have steadied since mid-March. Matson offers a stable domestic revenue stream with optionality on the international Transpacific trade, which could see rates surprise higher in the coming weeks."

For an analyst ratings summary and ratings history on Matson, Inc. click here. For more ratings news on Matson, Inc. click here.

Shares of Matson, Inc. closed at $106.62 yesterday.

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