TSX runs higher on rate cut expectations
Investing.com - GLJ Research upgraded Daqo New Energy (NYSE:DQ) from Sell to Buy and established a price target of $30.50, representing significant upside from the current price of $18.91. According to InvestingPro data, the stock has shown strong momentum with positive returns over both one and three months.
The upgrade comes in response to a new proposed policy from China’s Ministry of Industry and Information Technology (MIIT) regarding the polysilicon segment, which includes significant market restructuring measures.
The policy would implement monthly production quotas for the four major polysilicon producers who collectively represent 80% of global capacity, according to GLJ Research.
Additional policy components include the forced closure of smaller or less efficient producers and the establishment of a price floor for polysilicon products.
GLJ Research cited its "newfound ability to track Poly-Si futures in China" as another factor enabling updated forward estimates for Daqo New Energy, a manufacturer of high-purity polysilicon for the solar photovoltaic industry. Investors should note that analysts expect a 43% revenue decline this year, according to InvestingPro, which offers 12 additional key insights about DQ’s financial health and market position in its comprehensive Pro Research Report.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.