BMO Capital Remains bullish on Darling Ingredients (DAR) Following Analyst Day
- Wall Street gains, helped by oil, economic data
- Twitter (TWTR) 'Takeover Money' Moves On as 'Trump Money' Moves In
- Buy Any Seasonal Market Weakness Ahead of Year End Rally - Oppenheimer (SPY)
- Unusual 11 Mid-Day Movers 12/5: (NVCN) (BCEI) (MEMP) Higher; (GTXI) (CERC) (HDSN) Lower
- Oil hits 16-month high in buying rush after OPEC agreement
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
BMO Capital reiterated an Outperform rating and $18.00 price target on Darling Ingredients (NYSE: DAR) following an analyst day. As BMO expected, Darling continues to face seasonal weakness and commodity headwinds across its food and feed businesses in 3Q16.
Analyst Kenneth Zaslow commented, "We attended Darling’s analyst day in which management showcased its growth opportunities in Food – both Rousselot (e.g., gelatin) and Sonac (e.g., foodgrade fats), while providing an overall business update. Our view remains unchanged in that we continue to believe that the recent softness in the commodity environment likely will limit near-term earnings; however, legislative policies, capital investments (e.g., DGD’s expansion plan, two new rendering plants), mix opportunities (e.g., shift toward pharmaceutical gelatin), and internal actions (SG&A reduction) should create a structural improvement in its long-term earnings power."
Shares of Darling International closed at $13.23 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Berkshire Hathaway (BRK-A) Book Value Could Be Boosted by $29B from Trump Tax Plan - Analyst
- UPDATE: Goldman Sachs Downgrades Marvell (MRVL) to Sell
- KLR Group Raises Price Target on PDC Energy (PDCE) to $90
Create E-mail Alert Related CategoriesAnalyst Comments
Related EntitiesBMO Capital, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!