BMO Capital analyst Andrew Strelzik lowered the firm’s price target on Darling Ingredients to $70 from $85 but keeps an Outperform rating on the shares. The firm is resetting estimates amid pressure on DGD margins from a steeper-than-expected drop in RINs and the recent decline in rendering values, though it also views the pullback in shares as overdone and sees some green shoots for profitability metrics to improve, the analyst tells investors in a research note.
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