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Fly News Breaks for June 4, 2018
DQ
Jun 4, 2018 | 10:08 EDT
As previously reported, Roth Capital analyst Philip Shen downgraded Daqo New Energy to Neutral from Buy and lowered his price target on the shares to $48 from $75. With China's "much worse-than-expected" new solar policy, the analyst now expects a "massive" net oversupply of cell capacity. Further, Shen argues that the outlook for polysilicon prices has "suddenly deteriorated" for not only 2018, but also 2019.
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