Argan downgraded to Hold from Buy at Lake Street

Lake Street analyst Robert Brown downgraded Argan (AGX) to Hold from Buy with a price target of $150, up from $85. The firm believes shares fully reflect the potential of the current strong environment, driven by new power demand from data centers and EVs. While it expects multiple new large contract wins and a significant ramp in revenue and EBITDA in the next several years, the firm believes shares “fully reflect the opportunity,” the analyst tells investors.