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Argan ( (AGX) ) has provided an update.
Argan, Inc.’s subsidiary, Gemma Power Systems, has received full notice to proceed with an engineering, procurement, and construction contract for the CPV Basin Ranch Energy Center in Ward County, Texas. The 1,350 MW power plant, featuring GE turbines and potential carbon capture capabilities, is set to begin construction this fall with completion expected in 2028. This project is a significant investment in local power infrastructure, expected to create thousands of jobs during construction and provide long-term benefits to the community by powering 850,000 homes. It underscores Gemma’s expertise in delivering complex power generation facilities and strengthens its partnership with Competitive Power Ventures.
The most recent analyst rating on (AGX) stock is a Buy with a $314.00 price target. To see the full list of analyst forecasts on Argan stock, see the AGX Stock Forecast page.
Spark’s Take on AGX Stock
According to Spark, TipRanks’ AI Analyst, AGX is a Outperform.
Argan’s strong financial performance, characterized by robust revenue growth and profitability, is the most significant factor driving the stock score. Technical analysis supports a positive trend, although the valuation suggests the stock may be overvalued. The earnings call highlights a positive outlook, but challenges in the Industrial Construction Services segment and a low dividend yield slightly temper the overall score.
To see Spark’s full report on AGX stock, click here.
More about Argan
Argan, Inc. is primarily engaged in providing a comprehensive range of construction and related services to the power industry. Through its subsidiaries, including Gemma Power Systems, Argan focuses on engineering, procurement, and construction of natural gas-fired power plants and renewable energy facilities. The company also offers commissioning, maintenance, project development, and technical consulting services.
Average Trading Volume: 369,662
Technical Sentiment Signal: Buy
Current Market Cap: $4.04B
See more insights into AGX stock on TipRanks’ Stock Analysis page.