UPDATE: Macquarie Capital Initiates Coverage on Susser on Premium Growth Story in Growth Market

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

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Susser

(NYSE: SUSS) with an Outperform rating and $75.00 price target.In the report, Macquarie Capital noted, “Susser Holdings' growth strategy is focused on rapid localized growth in Texas and surrounding markets. The backbone of growth has historically been the fuel distribution business, but with the spin-out of the wholesale fuel distribution business into a MLP called Susser Petroleum in 2012, the holding company, Susser Holdings, can invest more energy into expansion of its retail business. We rate the stock Outperform with a target price of US$75 based on the stock trading at a ~10x Forward EV/EBITDA multiple.”Susser closed on Thursday at $59.68.