JPMorgan cuts target for Argan stock to USD 785

Published on 10/05/2026 at 07:58 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Second-quarter revenue reached USD 384.0 million, up 61.5 percent year over year. Argan stock costs EUR 342.10 on October 5, 2026, versus EUR 341.10.

AGX, US04010E1091, Illustration mit AI erstellt.

Argan, Inc. (ISIN US04010E1091) stood at EUR 342.10 at Lang & Schwarz on October 5, 2026 at 7:56 a.m. CEST, up 0.29 percent versus the prior close of EUR 341.10. As MarketBeat reported on September 29, 2026, JPMorgan lowered its price target for Argan from USD 800.00 to USD 785.00 while maintaining an Overweight rating.

Revenue accelerates in the second quarter

StockTitan reported that Argan generated USD 384.0 million in revenue for the quarter ended July 31, 2026, up 61.5 percent from USD 237.7 million in the prior-year quarter. Net income reached USD 53.3 million, compared with USD 35.3 million a year earlier, while diluted earnings per share increased to USD 3.76 from USD 2.50.

The comparison with expectations was also substantial. Revenue exceeded the cited USD 300.5 million estimate, while earnings per share exceeded the USD 2.64 estimate by USD 1.12, according to the same StockTitan filing summary.

Dividend adds a cash-return signal

Argan also raised its quarterly cash dividend from USD 0.50 to USD 0.70 per share, a 40 percent increase, with payment scheduled for October 30, 2026 to shareholders of record on October 22, 2026. MarketScreener published those dates and the new payout on September 9, 2026.

The latest earnings profile combines higher revenue with stronger profit conversion. Adjusted EBITDA reached USD 70.0 million in the quarter, equal to an 18.2 percent margin, while six-month revenue totaled USD 674.9 million, up 56.5 percent, according to StockTitan.

Pre-market quote stays near EUR 342.00

Argan was trading at EUR 342.10 at Lang & Schwarz on October 5, 2026 at 7:56 a.m. CEST, with a plus 0.29 percent move against the Lang & Schwarz prior close of EUR 341.10 on October 2, 2026. The reference quote is in the pre-market phase for the Xetra session model. The company trades on the NYSE under ticker AGX, and its reported business centers on engineering, procurement and construction services for power and energy infrastructure.