Daqo New Energy downgraded to Neutral from Buy at Goldman Sachs

As previously reported, Goldman Sachs downgraded Daqo New Energy (DQ) to Neutral from Buy with a $17 price target Daqo used to sit at low end of the industry cost curve, but the firm expects the aggressive Tier 1 capacity expansion in the poly segment to be negatively compounded by a lower demand outlook, pushing Daqo towards the high end of the industry cost curve, the analyst tells investors.