Auriga Reiterates Buy, $20 PT On Daqo New Energy (DQ): "Shares Unjustly Punished"

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03:19:46 pm on December 1, 2010

Auriga is out today reiterating the Buy rating and $20 price target on Daqo New Energy (DQ).  The firm believes the company is on schedule to produce 850MT of polysilicon in Q4 which is the top end of guidance and sees poly prices holding firm at $75/kg.  They see little downside risk to the shares at the this level and believes the stock has been unjustly punished since reporting earnings.  After a slow start today, shares of DQ are recovering, up about 8%. 

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