diff --git a/src/odoc/bin/main.ml b/src/odoc/bin/main.ml
index 6552e611aa..bc0e3a9dd7 100644
--- a/src/odoc/bin/main.ml
+++ b/src/odoc/bin/main.ml
@@ -338,13 +338,19 @@ end = struct
   let generate = Generate.(cmd, info)
 
   module Targets = struct
-    let list_targets output_dir _ extra odoc_file =
+    let list_targets output_dir directories extra odoc_file =
       let odoc_file = Fs.File.of_string odoc_file in
-      Rendering.targets_odoc ~renderer:R.renderer ~output:output_dir ~extra
-        odoc_file
+      let env =
+        Env.create ~important_digests:false ~directories ~open_modules:[]
+      in
+      Rendering.targets_odoc ~env ~warn_error:false ~syntax:OCaml
+        ~renderer:R.renderer ~output:output_dir ~extra odoc_file
 
     let back_compat =
-      let doc = "For backwards compatibility. Ignored." in
+      let doc =
+        "For backwards compatibility when processing odoc rather than odocl \
+         files."
+      in
       Arg.(
         value
         & opt_all (convert_directory ()) []
diff --git a/src/odoc/rendering.ml b/src/odoc/rendering.ml
index da2dcc6f04..d6eb2c462d 100644
--- a/src/odoc/rendering.ml
+++ b/src/odoc/rendering.ml
@@ -71,8 +71,14 @@ let render_odoc ~env ~warn_error ~syntax ~renderer ~output extra file =
 let generate_odoc ~syntax ~renderer ~output extra file =
   document_of_odocl ~syntax file >>= render_document renderer ~output ~extra
 
-let targets_odoc ~renderer ~output:root_dir ~extra odoctree =
-  document_of_odocl ~syntax:OCaml odoctree >>= fun odoctree ->
+let targets_odoc ~env ~warn_error ~syntax ~renderer ~output:root_dir ~extra
+    odoctree =
+  let doc =
+    if Fpath.get_ext odoctree = ".odoc" then
+      document_of_input ~env ~warn_error ~syntax odoctree
+    else document_of_odocl ~syntax:OCaml odoctree
+  in
+  doc >>= fun odoctree ->
   let pages = renderer.Renderer.render extra odoctree in
   Renderer.traverse pages ~f:(fun filename _content ->
       let filename = Fpath.normalize @@ Fs.File.append root_dir filename in
diff --git a/src/odoc/rendering.mli b/src/odoc/rendering.mli
index 2df2923ef6..a6d70c6b43 100644
--- a/src/odoc/rendering.mli
+++ b/src/odoc/rendering.mli
@@ -20,6 +20,9 @@ val generate_odoc :
   (unit, [> msg ]) result
 
 val targets_odoc :
+  env:Env.builder ->
+  warn_error:bool ->
+  syntax:Renderer.syntax ->
   renderer:'a Renderer.t ->
   output:Fs.directory ->
   extra:'a ->