Argan Inc (AGX) experienced a price increase of 5.54%, crossing above its 5-day SMA, amid positive market conditions with the Nasdaq-100 up 1.50% and the S&P 500 up 0.83%.
The surge is attributed to Argan's announcement of a quarterly cash dividend of $0.50 per share, reflecting a 33% increase since September 2025. This dividend growth underscores the company's commitment to returning value to shareholders and indicates confidence in its financial health and project pipeline, especially as demand for energy infrastructure services continues to rise.
This positive news not only enhances investor confidence but also positions Argan favorably within the power industry, as it expands its capacity to manage multiple projects amid increasing power demand.
Wall Street analysts forecast AGX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for AGX is 365.25 USD with a low forecast of 325.00 USD and a high forecast of 397.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
4 Analyst Rating
Wall Street analysts forecast AGX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for AGX is 365.25 USD with a low forecast of 325.00 USD and a high forecast of 397.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
2 Buy
2 Hold
0 Sell
Moderate Buy
Current: 353.500
Low
325.00
Averages
365.25
High
397.00
Current: 353.500
Low
325.00
Averages
365.25
High
397.00
Lake Street
Buy
to
Hold
downgrade
$260 -> $325
2025-12-05
Reason
Lake Street
Price Target
$260 -> $325
AI Analysis
2025-12-05
downgrade
Buy
to
Hold
Reason
Lake Street downgraded Argan to Hold from Buy with a price target of $325, up from $260. Argan is executing well with strong margins and a $3B backlog that provides visibility for the next two to three years, but shares are trading at a "top-tier valuation on peak estimates" that reflect strong execution, increased margins, and full activity on its current pipeline, the analyst tells investors.
GLJ Research
Hold
to
Buy
upgrade
$369
2025-11-10
Reason
GLJ Research
Price Target
$369
2025-11-10
upgrade
Hold
to
Buy
Reason
GLJ Research upgraded Argan to Buy from Hold with a $369 price target.
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GLJ Research
GLJ Research
Hold
to
Buy
upgrade
$369
2025-11-10
Reason
GLJ Research
GLJ Research
Price Target
$369
2025-11-10
upgrade
Hold
to
Buy
Reason
As previously reported, GLJ Research upgraded Argan (AGX) to Buy from Hold with a $369 price target. The firm notes Argan's Gemma Power Systems announced full notice to proceed on an 860MW gas-fired power plant will enter into Q3 2026 backlog. Conversations with Gemma's largest competitors lead GLJ to believe this project is Vistra's Monahans, Texas project - two GE Vernova (GEV) HA.02 turbines in simple cycle configuration. The firm cites the wake of a third gas generation announcement project vs. management's guidance towards two deals for the upgrade. GLJ believes the team at Gemma Power Systems is using regional cross-staffing to surpass previously communicated staffing limitations and it views Argan's localized scale in the accelerative Texas market as pivotal to earnings power beyond the Street as gas generation drives its 2027 topline revenue / EBITDA +31% / +61%.
Goldman Sachs
Ati Modak
initiated
$397
2025-11-10
Reason
Goldman Sachs
Ati Modak
Price Target
$397
2025-11-10
initiated
Reason
Goldman Sachs analyst Ati Modak initiated coverage of Argan with a Buy rating and $397 price target. Argan provides the best direct means of gaining exposure to the combined cycle gas power generation theme as the sole public pure-play Specialty Contractor within the space, the analyst tells investors in a research note. The firm adds that it sees potential for a 4-5 GW combined cycle gas turbine capacity additions per year through 2030, also noting that with Argan's continued focus on their strong balance sheet position, the stock represents the best way to gain exposure to the construction portion of the gas power generation theme.
About AGX
Argan, Inc. is a holding company. The Company is a construction firm that conducts operations through its subsidiaries, Gemma Power Systems, LLC and affiliates (GPS), Atlantic Projects Company Limited and affiliates (APC), The Roberts Company, Inc. (TRC), and Southern Maryland Cable, Inc. (SMC). Through GPS and APC, its power industry services, it offers a suite of engineering, procurement, construction, commissioning, maintenance, project development and technical consulting services to the power generation market, including the renewable energy sector. Through TRC, the industrial construction services provide field services and project management that support new plant construction and additions, maintenance turnarounds, shutdowns and emergency mobilizations for industrial plants. Through SMC, its telecommunications infrastructure services provide project management, construction, installation and maintenance services to commercial, local government and federal government customers.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
