MATX Should I Buy

JPMorgan initiated coverage of Matson with an Overweight rating and $230 price target, implying 30% upside potential. Matson is a leading U.S. ocean carrier and logistics provider with Jones Act-protected domestic trade lanes and premium expedited China-to-U.S. services, the analyst tells investors in a research note. The firm says Matson's fastest transpacific ocean routes allow it to operate in a "niche market, sitting above commoditized marine freight carriers and as a cost-effective expedited air freight alternative."