Argan initiated with a Buy at Goldman Sachs

Goldman Sachs analyst Ati Modak initiated coverage of Argan (AGX) 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.