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Darling Ingredients downgraded to Neutral from Outperform at Baird

Baird analyst Ben Kallo downgraded Darling Ingredients (DAR) to Neutral from Outperform with a price target of $36, down from $40. The company reported a Q2 miss and lowered its 2025 outlook due to uncertainty regarding the small refiner’s exemption and weakness in the renewable identification numbers market for renewable fuels, the analyst tells investors in a research note. The firm cites its lack of confidence in Darling’s visibility due to fundamentals and policy changes for the downgrade.

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