Darling Ingredients price target lowered to $120 from $123 at Stifel

Stifel analyst Derrick Whitfield lowered the firm’s price target on Darling Ingredients (DAR) to $120 from $123 and keeps a Buy rating on the shares after having hosted an investor call with several Darling executives, including CSO Bob Day and COO Matt Jansen. The firm left the call increasingly constructive on Darling’s sustainable margin advantage, an improving supply/demand outlook for D4/D5 RINs in 2025, and the margin potential of DAR’s SAF business, but is lowering its target price to reflect Valero’s (VLO‘) Q4 update, while noting that it reiterating its Select List view of Darling.