EQUITY RESEARCH: MATSON INC

Matson Group is a shipping company with more than 100 years of history officially listed in 2014. Matson is the largest shipping company in the United States and has a good reputation globally. As of August 2021, Mason owns 3163 million's market capital. The shipping industry connects the world economy, physically connects trades of all countries. Effectively helps companies reduce costs and provides employment opportunities for backward countries and developing countries in the world. In 2020, the global economy was affected by the COVID-19 Pandemic, and countries that shut down the borders caused substantial economic losses. The first to bear the brunt is the shipping industry, which is also why I study it. Matson is listed in a mature financial market in this industry, and Matson has relatively close cooperation with Chinese companies. I am very interested in the impact of increasingly tense Sino-US trade relations on American enterprises. The report format is recommended by the CFA Institute. In this report, I use DCF, DDM, APV and Price multiple to estimate the enterprise value. I recommend to HOLD the stock of Matson Inc., with 2021YE target price of $84.01. This means the potential of upside is up to 16% with high risk.