Darling Ingredients price target lowered to $95 from $120 at Stifel

Stifel lowered the firm’s price target on Darling Ingredients to $95 from $120 and keeps a Buy rating on the shares, which remain on the firm’s Select List. The firm is updating estimates to reflect Darling’s Q4 results while additionally lowering its long-term D4 RIN price assumption to $1.00 from $1.50 to more closely reflect a mid-cycle price and incorporating the Clean Fuel Production Credit in place of the $1.00 Blender’s Tax Credit for the company’s RD/SAF production beginning in 2025.