Daqo New Energy price target raised to $30 from $25 at Roth Capital

Roth Capital raised the firm’s price target on Daqo New Energy (DQ) to $30 from $25 and keeps a Neutral rating on the shares. The company delivered a Q3 earnings beat and issued a healthy Q4 guide while also recording a positive gross margin for the first time since Q1 of 2024, the analyst tells investors in a research note. While this is largely due to a reversal of an inventory write-down, the management believes that positive gross margins could continue given expected average sales price recovery and cost reductions, the firm added.