Oct. 14 at 3:20 PM
$AGX just hit an all-time high after JPM upgraded it to Overweight with a
$315 price target (up from
$220). The analyst called Argan and its Gemma Power unit underappreciated beneficiaries of the AI-driven power demand cycle. Backed by record backlog, strong project visibility, and rising margins.
This upgrade isn’t a surprise to me. I highlighted the same setup months ago. A clean balance sheet, disciplined capital returns, and a pipeline of large-scale gas projects giving multi-year earnings visibility.
Since I added Argan (AGX) to the portfolio, the stock is up 145%, and the story is far from over.
If you missed my full deep dive breaking down the numbers and catalysts, you can read it here:
👉 https://www.beatingthetide.com/p/argan-agx-deep-dive-stock-analysis-2025