Convenience store coverage initiated at JPMorgan

JPMorgan has a look at gasoline convenience store chain spinoffs, initiating Valero spinoff CST Brands (CST) with a Buy and Murphy Oil spinoff Murphy USA (MUSA) with a Hold.

It may be a valuation call, as Murphy USA is up 19% since it began trading on its own in late August, while CST is up less than 3%.

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