As reported earlier, BMO Capital analyst Kenneth Zaslow downgraded Darling Ingredients to Market Perform but raised his price target to $20 from $19. Zaslow says his fundamental view on the company has not changed, pointing to less compelling risk-reward based on limited upside in the stock price and some near-term headwinds. Specifically, the analyst expects near term earnings to be constrained by weak yellow grease prices, soft meat and bone prices, lackluster South Africa growth, and the impact of the Diamond Green Diesel joint venture downtime.