DAQO New Energy Surpasses Analyst Price Target: What’s Next?
Recently, shares of DAQO New Energy Corp (Symbol: DQ) have surged above the average analyst target price of $20.48, now trading at $20.50 per share. When a stock hits an analyst’s target, they face two options: downgrade the valuation or adjust their price target upwards. Analyst responses often hinge on the company’s underlying performance and recent developments, which could support an increased target.
Seven analysts contribute to the consensus target for DAQO New Energy Corp. While the average stands at $20.48, some analysts project significantly different outcomes. One analyst has set a conservative price target of $12.51, while another is optimistic with a projection of $34.05. The standard deviation among these targets is $7.498, highlighting the range of views on the stock’s potential.
The average target serves as a collective insight from various analysts rather than relying solely on the opinion of one expert. With DQ now exceeding the average target price of $20.48 per share, investors are encouraged to evaluate whether this target is merely a stepping stone towards a higher price or if the stock has become overvalued, potentially warranting a reconsideration of their holdings. Below is a summary of the current analyst ratings for DAQO New Energy Corp:
| Recent DQ Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Months Ago | 3 Months Ago |
| Strong Buy ratings: | 4 | 4 | 3 | 3 |
| Buy ratings: | 0 | 0 | 0 | 0 |
| Hold ratings: | 2 | 1 | 2 | 2 |
| Sell ratings: | 0 | 0 | 0 | 0 |
| Strong Sell ratings: | 1 | 1 | 1 | 1 |
| Average rating: | 2.14 | 2.0 | 2.33 | 2.33 |
The average rating in the table ranks from 1 (Strong Buy) to 5 (Strong Sell). This article incorporates data from Zacks Investment Research via Quandl.com. For further details, obtain the latest Zacks research report on DQ — free of charge.
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The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.
