Argan climbs after J.P. Morgan upgrades to 'overweight'

Argan

13/10/2025 13:07

** Shares of construction firm Argan AGX.N rise nearly 4% to $265.8 premarket

** J.P. Morgan upgrades stock to "overweight" from "neutral", raises PT to $315 from $220

** AGX and its subsidiary, Gemma Power Systems (which builds and operates power plants), could benefit from growing demand for electricity driven by AI, but they have not received much attention yet, brokerage says

     ** AGX is likely to grow for years and make more profit, supported by a strong list of upcoming projects, many big gas deals in the U.S. and rising prices in the gas power market - JPM

** Average analyst rating on the stock is "hold"; median PT $247.50 - data compiled by LSEG

** As of last close, shares up nearly 87% YTD

 (Reporting by Akriti Shah in Bengaluru)

 ((akriti.shah@thomsonreuters.com))