JPMorgan analyst Thomas Palmer raised the firm’s price target on Darling Ingredients (DAR) to $69 from $59 and keeps an Overweight rating on the shares. The firm increased estimates and targets in the agricultural products group citing an improving ag products industry environment. The Environmental Protection Agency’s proposed renewable volume obligations for 2026 would “mandate a significant step up” in biofuels mandates and should become effective as of January 1, the analyst tells investors in a research note. JPMorgan thinks demand pull, in addition to the recent geopolitical disruptions, are driving margins higher for biofuels producers and oilseed processors.
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