Darling Ingredients price target lowered to $57 from $60 at BMO Capital

BMO Capital lowered the firm’s price target on Darling Ingredients to $57 from $60 but keeps an Outperform rating on the shares. The company’s Q4 EBITDA of $351M beat consensus of $342M, reflecting stronger core ingredient profits and lower Corporate expenses, partially offset by weaker Diamond Green Diesel margins, the analyst tells investors in a research note. Darling’s 2024 outlook is more limited, though BMO continues to “value” its vertically integrated business model and ability to grow earnings over time, the firm added.