Argan shares climb after strong Q4 revenue growth

Argan

27/03/2026 11:20

** Shares of U.S. power plant builder Argan AGX.N rise nearly 10.3% to $453 in premarket

** Co's Q4 revenue rose 12.7% to $262.05 million from a year ago; analysts expected $263.84 million

** J.P. Morgan upgrades rating to "overweight" from "neutral," sees large project awards and a potential framework agreement in FY27 as positive catalysts for the stock

** Brokerage also raises PT to $550 from $370, which represents ~26% upside to the stock's last close

** "Additionally, we believe a potential long-term framework agreement with a key customer could support extended demand visibility through the end of the decade (as seen with private peers)" - J.P. Morgan

** Six analysts rate the stock "buy" on average; median PT is $397.5 - data compiled by LSEG

** As of last close, AGX is up ~31% YTD

 (Reporting by Akriti Shah in Bengaluru)

 ((akriti.shah@thomsonreuters.com))