Argan(US:AGX) Yahoo Finance·2025-10-13 17:35Core Viewpoint - Argan's stock is experiencing significant growth, driven by an upgrade from J.P. Morgan Chase and strong fundamentals in the energy sector, particularly related to AI-driven power demand [1][3][5]. Group 1: Stock Performance - Argan shares are up by 13.8% as of 12:22 p.m. ET, reflecting a strong start to the week for stocks [1]. - The stock has more than doubled year to date, indicating robust performance [4][8]. Group 2: Analyst Upgrade - J.P. Morgan Chase upgraded Argan from a neutral rating to a buy recommendation and raised its price target from $220 to $315 per share, representing a potential 25% gain from the previous closing price [3][5]. - The investment bank believes that Argan is an "underappreciated beneficiary" of the increasing demand for AI-driven power solutions [5]. Group 3: Business Fundamentals - Argan's backlog for energy sector projects reached a record $2 billion as of July 31, which is 43% higher than the backlog on January 31, 2025 [4]. - The company is expected to see its backlog rise significantly over $2 billion by year-end, driven by the ongoing demand for AI infrastructure [6]. Group 4: Dividend and Investor Confidence - Argan management raised its dividend by 33% last month, reflecting confidence in the company's growth and providing additional returns to investors [6][8].