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Argan Stock Surges on AI-Driven Power Demand and J.P. Morgan Upgrade

Argan Stock Surges on AI-Driven Power Demand and J.P. Morgan Upgrade

Author:

Global Cryptocurrency

Published:

2025-10-13 19:33:01

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BTCCSquare news:

Argan Inc. (AGX) shares jumped 13.8% midday as J.P. Morgan upgraded the stock to overweight, citing its role in meeting AI-related power infrastructure demands. The firm raised its price target to $315, implying 25% upside from Friday's close.

The industrial engineering company's backlog for energy projects hit a record $2 billion in July, up 43% since January. Argan's expertise in natural gas and renewable energy plants positions it as a key enabler for data centers powering AI workloads.

J.P. Morgan anticipates Argan's backlog could exceed $2 billion by year-end, reflecting sustained momentum in energy infrastructure buildout. The stock has more than doubled year-to-date, outperforming broader market indices.

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