Arko Petroleum initiated with a Neutral at Mizuho

Mizuho analyst Gabriel Moreen initiated coverage of Arko Petroleum (APC) with a Neutral rating and $20 price target The firm says Arko represents an “intriguing way” to invest in a stable portion of the energy distribution chain while potentially capitalizing on consolidating a fragmented industry. The company’s limited free cash flow retention post-dividends and capex implies it could eventually require external capital to execute its strategy, the analyst tells investors in a research note.