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DQ

Daqo New Energy

$25.79

0.57 (2.26%)

06:56
10/15/18
10/15
06:56
10/15/18
06:56

Daqo New Energy completes construction, installation of Shihezi facility

Daqo New Energy announced that it has completed the construction and installation of its Phase 3B polysilicon production facility in Shihezi, Xinjiang and has begun pilot production. The company expects the Phase 3B facility will ramp up to full production capacity and expand its total production capacity to 30,000 MT by the end of Q1 2019. Once Phase 3B has reached full production capacity, a power purchase agreement with the local electric utility will reduce the company's electricity rates by approximately 18% from the current levels, further lowering the company's polysilicon production cost. With lower electricity rates, higher manufacturing efficiency, greater economies of scale, and enhanced equipment and process, the company expects the overall total cost of polysilicon production for its Xinjiang facilities to decrease to approximately $7.50 per kilogram. Separately, the company has launched a debottlenecking project to modernize some of its current chemical vapor deposition, or CVD, furnaces and upgrade other production equipment which will allow it to increase efficiency and production volume. The company expects to complete the debottlenecking project and increase its annual capacity to 35,000 MT by the end of June 2019. The company's Phase 4A capacity expansion project is currently under construction and is expected to begin pilot production in Q4 of 2019. The company expects to ramp up Phase 4A to full production in Q1 of 2020 which will expand its total production capacity to 70,000 MT. When production from Phase 4A is fully ramped up, the company's electricity rates will decrease further based on the agreement with the local electric utility, and the overall total cost of polysilicon production for its Xinjiang facilities is expected to decrease to approximately $6.80 per kilogram.

DQ Daqo New Energy
$25.79

0.57 (2.26%)

08/08/18
08/08/18
UPGRADE
Target $55

Buy
Daqo New Energy upgraded to Buy after quarterly results at Roth Capital
As previously reported, Roth Capital analyst Philip Shen upgraded Daqo New Energy to Buy from Neutral after the company delivered a Q2 beat and provided healthy Q3 shipment guidance. Further, with pricing stabilized over the past few weeks, Shen is past peak pessimism in Daqo New Energy. The analyst also raised his price target on the shares to $55 from $40.
08/23/18
FBCO
08/23/18
INITIATION
FBCO
Outperform
Daqo New Energy initiated with an Outperform at Credit Suisse
08/24/18
FBCO
08/24/18
INITIATION
Target $58
FBCO
Outperform
Credit Suisse sees Daqo benefiting from solar grid-parity demand
Credit Suisse last night initiated coverage of Daqo New Energy with an Outperform rating and $58 price target. Supported by a "strong cost advantage" and capacity expansion, Daqo should be a key beneficiary of upcoming solar grid-parity demand in China, the firm said in a research note.
08/24/18
08/24/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Rosehill Resources (ROSE) initiated with a Buy at Stifel. 2. Huntsman (HUN) initiated with a Buy at Seaport Global. 3. Daqo New Energy (DQ) initiated with an Outperform at Credit Suisse. 4. Ardelyx (ARDX) initiated with a Buy at Jefferies. 5. Berry Petroleum (BRY) was initiated with an Overweight at Capital One and an Outperform at Evercore ISI. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

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Rio Tinto

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Gentex

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Veoneer

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VC

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DLPH

Delphi Technologies

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BWA

BorgWarner

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LEA

Lear

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3.94 (3.34%)

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DFIN

Donnelley Financial Solutions

$10.54

0.035 (0.33%)

20:12
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Donnelley Financial Solutions initiated at B. Riley FBR »

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JNJ

Johnson & Johnson

$132.84

2.17 (1.66%)

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Teva

$6.96

0.22 (3.26%)

19:17
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Periodicals
As part of proposed settlement, Teva offers $15B of free drugs, Bloomberg says »

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Johnson & Johnson

$132.84

2.17 (1.66%)

TEVA

Teva

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0.22 (3.26%)

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WAFD

Washington Federal

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INGR

Ingredion

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SPX

S&P 500

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PBR

Petrobras

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SNBR

Sleep Number

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United Airlines

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Fulton Financial

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ETN

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RYTM

Rhythm Pharmaceuticals

$20.90

0.52 (2.55%)

PRQR

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NTRA

Natera

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PRNB

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$29.88

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X

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ARCE

Arco Platform

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TW

Tradeweb Markets

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KKR

KKR

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Deutsche Bank

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TW

Tradeweb Markets

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Breaking Hot Stocks news story on Tradeweb Markets »

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TW

Tradeweb Markets

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18:17
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18:17
Syndicate
Tradeweb Markets files to sell 14.8M shares of Class A common stock »

Refinitiv will continue…

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TW

Tradeweb Markets

$39.79

-0.14 (-0.35%)

18:16
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Earnings
Tradeweb Markets sees Q3 adjusted EPS 27c, consensus 25c »

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EDIT

Editas Medicine

$20.30

0.48 (2.42%)

18:15
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Hot Stocks
Editas Medicine, AskBio enter research collaboration over in vivo delivery »

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WYNN

Wynn Resorts

$114.78

2.43 (2.16%)

18:03
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SFIX

Stitch Fix

$20.83

-0.38 (-1.79%)

18:00
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Hot Stocks
Stitch Fix director buys 150K shares of common stock »

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