Argan price target raised to $518 from $399 at Goldman Sachs

Goldman Sachs analyst Ati Modak raised the firm’s price target on Argan (AGX) to $518 from $399 and keeps a Buy rating on the shares. The firm remain constructives on Argan for its pure-play combined-cycle gas turbine exposure, with expectations for earnings growth in FY27 driven by higher revenue conversion on backlog projects and capacity expansion to 10-12 Power projects over the next 12-20 months, the analyst tells investors in a research note.