Wells Fargo analyst Michael Webber notes shares of Matson rallied yesterday after the company confirmed that Pasha will have exclusive use of the Kapalama Terminal. The analyst, however, believes noise around Hawaii competition is unlikely to stop. He notes his channel checks indicate that not only are there other sites where a third competitor like TOTE could feasibly find terminal space, but that TOTE's orders at the more established Aker shipyard will likely proceed regardless of the status of Kapalama. Webber reiterates an Underperform rating on Matson with a $22 price target. The analyst recommends selling the stock on yesterday's 9% rally.