NEW YORK (TheStreet) -- Shares of Darling Ingredients (DAR - Get Report) are up 0.06% to $15.78 in afternoon trading on Wednesday after the company's stock price target was boosted to $18 from $15.50 at Canaccord.

The firm maintained a "buy" rating on the Irving, TX-based ingredients maker after the company provided a biofuels update call on Tuesday.

"Strategic transformation is underway, as Darling executes through a commodity reset and positions the company into a global growth platform for food, fuel and feed markets," Canaccord analysts wrote in a note released before today's market open.

Darling Ingredients is preparing to capitalize on several developments and continues to deliver strong operational performance, which will lead to improvements in second quarter.

"We like the history of execution from this team (along with secular growth opportunity for the global business) and will continue to 'bet the jockey' here," analysts added.

Separately, Darling Ingredients has a "hold" rating and a letter grade of C at TheStreet Ratings because of the company's increase in net income and reasonable valuation levels, which offset disappointing return on equity, weak operating cash flow and generally disappointing stock performance.

You can view the full analysis from the report here: DAR

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.