The Zhitong Finance App learned that Goldman Sachs released a research report stating that it will downgrade the rating of Daxin New Energy (DQ.US) from “buy” to “neutral” and lower the target stock price from 140 US dollars to 70 US dollars.

Goldman Sachs analyst Chao Ji believes that due to the expansion of production capacity in the industry, the price of photovoltaic panels began to fall in November, which may put pressure on Daxin Energy's profit margin. The analyst believes that the stock's historical valuation multiplier is reasonable compared to the average of the past three decline cycles. Chao Ji believes that the risk/reward of big new energy is balanced because the price outlook for PV panels tends to be moderate.