HSBC Downgrades Daqo New Energy to Reduce, Announces $17.5 Price Target
Portfolio Pulse from Benzinga Newsdesk
HSBC analyst Daniel Yang downgraded Daqo New Energy (DQ) from Hold to Reduce and set a new price target of $17.5.

May 06, 2024 | 2:24 pm
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Daqo New Energy was downgraded by HSBC from Hold to Reduce with a new price target of $17.5.
The downgrade from Hold to Reduce by a major financial institution like HSBC, accompanied by a specific price target, is likely to influence investor sentiment negatively. This action suggests a bearish outlook on DQ's stock by the analyst, potentially leading to a decrease in stock price in the short term as market participants adjust their expectations based on this new analysis.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100