UPDATE: Macquarie Capital Initiates Coverage on Susser Petroleum Partners as Unique Asset in Consolidating Industry

In a report published Friday, Macquarie Capital analyst Dane Leone initiated coverage on

with an Outperform rating and $40.00 price target. In the report, Macquarie Capital noted, “Susser Petroleum partners is a master limited partnership (MLP) formed by Susser Holdings (SUSS, Outperform) to act as a fuel wholesaler to both the holding company and to third-party customers. Susser Petroleum became publicly listed in September 2012 on the New York Stock Exchange. Susser Holdings retains ~50.1% of SUSP and consolidates the financial results of both companies. We rate SUSP Outperform with a US$40.00 target price, as we think the market is overly discounting the future growth prospects of the fuel distribution platform.” Susser Petroleum Partners closed on Thursday at $35.44.