Daqq New Energy (NYSE:DQ) Estimates Lifted on New Guidance

Daqq New Energy (NYSE:DQ) gave updated guidance which resulted in Auriga raising their fourth quarter and full year 2010 estimate on them.

Auriga said, "Daqq's poly plant is running above plan and management was able to positively preannounce Q4 earnings last night. We estimate the plant is running at annual rate greater than 4,500MT, or roughly 200MT above the nameplate capacity of 4,300MT, which enabled production of 930MT to 950MT during Q4; prior guidance was 825MT to 850MT. We are increasing our Q4 and 2010 estimates to account for the updated guidance."

Auriga maintains a 'Buy' on Daqq New Energy, which closed Thursday at $13.50, gaining $2.23, or 19.79 percent. Auriga has a price target of $20 on them.