Auriga Reiterates a 'Buy' on Daqo New Energy (DQ); Expanding As Expected
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Price: $13.61 -2.02%
Rating Summary:
12 Buy, 6 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 9 | New: 13
Rating Summary:
12 Buy, 6 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 9 | New: 13
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Auriga reiterates a 'Buy' on Daqo New Energy (NYSE: DQ), PT $22.
Auriga analyst says, "With polysilicon prices remaining stubbornly high, we are encouraged by management's confirmed intention to expand in higher margin polysilicon production. Our $22 target is 10x our 2012 EPS estimate of $2.20."
"Near-term polysilicon prices remain stubbornly high near $80/kg, unchanged since 4Q10 and indicative of its short supply despite the hiccup occurring in Italy. While we do expect prices to come down at some point, recent commentary from other management teams are now pointing to 2H11 as the most likely time when polysilicon prices start to decline when previously the expectation was 2Q11."
For more ratings news on Daqo New Energy click here and for the rating history of Daqo New Energy click here.
Shares of Daqo New Energy closed at $13.25 yesterday.
Auriga analyst says, "With polysilicon prices remaining stubbornly high, we are encouraged by management's confirmed intention to expand in higher margin polysilicon production. Our $22 target is 10x our 2012 EPS estimate of $2.20."
"Near-term polysilicon prices remain stubbornly high near $80/kg, unchanged since 4Q10 and indicative of its short supply despite the hiccup occurring in Italy. While we do expect prices to come down at some point, recent commentary from other management teams are now pointing to 2H11 as the most likely time when polysilicon prices start to decline when previously the expectation was 2Q11."
For more ratings news on Daqo New Energy click here and for the rating history of Daqo New Energy click here.
Shares of Daqo New Energy closed at $13.25 yesterday.
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