Darling Ingredients initiated with a Buy at UBS

UBS analyst Manav Gupta initiated coverage of Darling Ingredients with a Buy rating and $91 price target. Darling Ingredients holds close to 15% market share when it comes to global rendering volumes and about 50% market share in used cooking oil business in the U.S., and demand for animal fats and UCO will see step change as new renewable diesel facilities come online in the next 3 years, Gupta tells investors in a research note.