Jefferies cuts Darling Ingredients' PT on weaker volumes

Darling Ingredients

07/10/2024 13:53

** Brokerage Jefferies cuts PT on sustainable
food-processing company Darling Ingredients  DAR.N  to $44 from
$47
    ** Says expect DAR to miss earnings estimates for Q3 as
improvement in core business of ingredients is offset by lower
margins
    ** Adds, expects Q3 volumes flat quarter-over-quarter owing
to higher prices
    ** Customers destocking its pricey products continues to
drag volumes in its segments including feed and food ingredients
- brokerage
    ** New PT represents 19.1% premium to stock's last close of
$36.94
    ** Twelve of 15 brokerages rate the stock "buy" or "higher"
and three "hold"; their median PT is $52.50 - LSEG
    ** Up to last close, stock down nearly 26% YTD

 (Reporting by Anuja Bharat Mistry in Bengaluru)
 ((AnujaBharat.Mistry@thomsonreuters.com;))