Daqo New Energy initiated with a Buy at Citi

Citi initiated coverage of Daqo New Energy (DQ) with a Buy rating and $27 price target The firm believes a rebound in profits could lead to sector re-rating as supply-side reforms in China lift polysilicon stocks. Market-based tariffs could force small polysilicon suppliers out of the market and price controls may put a floor under polysilicon prices, the analyst tells investors in a research note.