Darling Ingredients price target lowered to $42 from $46 at Jefferies

Jefferies analyst Dushyant Ailani lowered the firm’s price target on Darling Ingredients (DAR) to $42 from $46 and keeps a Buy rating on the shares as part of a Q3 earnings preview. The firm expects the company to report Q3 EBITDA of $226M, below the consensus estimate of $260M, and revise its fiscal year outlook lower. Investors continue to wait on the final outcome of renewable volume obligation and small refinery exemption allocation, the analyst says.