Analyst Confidence Soars for Daqo New Energy Despite Quarterly Loss

In a solar sector grappling with severe oversupply and collapsing prices, one Chinese polysilicon producer is receiving a surprising vote of confidence from Wall Street. Citigroup issued a spectacularly bullish upgrade for Daqo New Energy Corp., dramatically raising its price target even as the company posted a multi-million dollar quarterly loss and negative margins. This divergence between current financial results and future optimism forms a compelling market narrative.

In a powerful show of conviction, Citigroup analyst Air Ma boosted the firm’s price target for Daqo New Energy from $27 to $37 per share?a substantial 37 percent increase. The bank also reaffirmed its “Buy” rating on the equity. This aggressive move is particularly notable as it follows Citi?s initiation of coverage on the... Read more...