Darling Ingredients price target lowered to $65 from $70 at BMO Capital

BMO Capital lowered the firm’s price target on Darling Ingredients to $65 from $70 but keeps an Outperform rating on the shares. The company’s Q3 EBITDA of $334M miss on the $382M consensus was mostly attributable to weaker Feed and DGD profits, the analyst tells investors in a research note. The firm adds however that it sees favorable risk/reward as Q3 likely represented a trough and expectations have been reset to levels from which Darling can build.