Daqo New Energy is back in focus after mixed price target moves, with JPMorgan lowering its target from US$35.50 to US$22 and Goldman Sachs cutting its target to US$10 alongside a Sell rating. These shifts reflect a split analyst view, where some see room for improvement if poly pricing and policy support play out as hoped, while others question whether the stock already prices in a strong recovery. In the sections that follow, you will see how these changing targets feed into the broader story around Daqo New Energy and what to watch next.
What Wall Street Has Been Saying
🐂 Bullish Takeaways
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JPMorgan has kept an Overweight rating on Daqo New Energy while cutting its price target from US$35.50 to US$22, then to US$18.50. This signals that the firm still sees room for upside at current levels despite recent revisions.
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Roth Capital remains Neutral with a US$12 target after a mixed Q3 and a slight increase to Daqo New Energy's 2026 production guidance. This points to ongoing confidence in the company's ability to execute on its capacity plans.
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Roth also highlights that China polysilicon prices have stabilized into Q4 2026, which some investors may view as constructive for revenue visibility and cash flow planning.
🐻 Bearish Takeaways
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Goldman Sachs downgraded Daqo New Energy to Sell and cut its target to US$10 after the company reported a Q2 non GAAP net loss driven by lower recognized average selling prices and higher SG&A expenses.
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Goldman argues that management's expectations for policy support and a recovery in poly pricing are already reflected in the current valuation and that the stock may be pricing in a high level of execution on the next poly price hike.
Do your thoughts align with the Bull or Bear Analysts? Perhaps you think there's more to the story. Head to the Simply Wall St Community to discover more perspectives!
We've flagged 1 risk for Daqo New Energy. See which could impact your investment.
How This Changes the Fair Value For Daqo New Energy
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Fair Value reduced from US$19.65 to US$17.20.
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Revenue growth assumption reduced from 30.82% to 28.11%.
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Net profit margin outlook increased from 6.50% to 12.33%.
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Future P/E multiple reduced from 23.46x to 11.51x.
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Discount rate adjusted from 12.37% to 12.31%.
Never Miss an Update: Follow The Narrative
Narratives connect Daqo New Energy's business story to analyst forecasts and an estimated fair value, updating as new data and research come through. They help you see how catalysts and risks fit together in a single, coherent view.
Head over to the Simply Wall St Community and follow the Narrative on Daqo New Energy to stay up to date on:
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How Chinese policy actions around pricing, competition, and capacity discipline could influence polysilicon profitability for Daqo New Energy.
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The role of N-type polysilicon technology, solar demand, and cost reduction efforts in supporting potential market share and margin improvement.
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Key risks such as prolonged industry oversupply, recurring operating losses, and Daqo New Energy's exposure to policy shifts and product concentration.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
Companies discussed in this article include DQ .
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