HSBC Upgrades Daqo New Energy (DQ) to Buy

HSBC analyst Daniel Yang upgraded Daqo New Energy (NYSE: DQ) from Hold to Buy with a price target of $29.30.

The analyst said: "We expect the company’s net loss to reach USD71m, on a continuing increase in N-type product shipment mix at a better margin. We expect quarterly production and shipment volumes to reach 44kt and 40kt, respectively."

For an analyst ratings summary and ratings history on Daqo New Energy click here. For more ratings news on Daqo New Energy click here.

Shares of Daqo New Energy closed at $20.71 yesterday.

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