Arko Petroleum initiated with a Buy at Stifel

Stifel initiated coverage of Arko Petroleum (APC) with a Buy rating and $22 price target The firm says Arko is an asset light fuel distribution service company delivering to retail fuel sites primarily in the eastern half of the U.S.. The company also has a fleet fueling business which Stifel finds “very attractive,” the analyst tells investors in a research note. Stifel the company’s growth will be driven by continued consolidation of supply contracts with retail fuel sites.