VLO - Darling Ingredients Undervalued With Its Diamond Green Diesel JV Valued At Zero

The reason we think that Darling (DAR) could be an interesting pick is to do with the latest results coming out of Valero Energy Corporation (VLO). With that release it became clear that the Diamond Green Diesel (DGD) J.V with Darling was the source of an expectations beat due to superior feed-stock flexibility compared to biofuel benchmarks. Based on questions in the earnings call, it became clear that renewable diesel was a bit of a dark horse for the analysts. But before price discovery could proceed for Darling which reported later,