Citigroup raises price target on Daqo New Energy

Daqo New Energy

08/09/2025 11:31

** Citigroup raises price target on polysilicon manufacturer Daqo New Energy DQ.N to $37 from $27, maintains "buy" rating

** The new price target represents a ~27% upside to the stock's last close

** Brokerage raises PT on rising polysilicon prices amid China's anti-involution campaign and expects DQ to earn cash profit from polysilicon sales in Q3

** Earlier this year, China launched a so-called anti-involution program to help curb excessive competition and price wars

** "We expect DQ's operating cash flow to turn positive from 3Q25 and its free cash flow to turn positive from 2026" - Citigroup

** 8 of 11 brokerages rate the stock "buy" or higher, and 3 "hold"; their median PT is $30 - data compiled by LSEG

** As of last close, stock up ~50% YTD

 (Reporting by Dharna Bafna in Bengaluru)

 ((Dharna.bafna@thomsonreuters.com))