Shares of Argan Inc. (AGX) are soaring more than 10% in early trading, building on the momentum from a strong pre-market session. The surge comes on the heels of the company's impressive first-quarter 2026 financial results and a significant price target upgrade from a Wall Street analyst.

Argan, a company known for its involvement in the construction and design of energy plants, released its Q1 2026 earnings after the previous session's close. While specific details were not provided, the results appear to have surpassed investor expectations, contributing to the positive sentiment surrounding the stock.

Adding fuel to the rally, Lake Street, a notable research firm, raised its price target for Argan to $236 from $150, while maintaining a Buy rating on the shares. The analysts cited strong margins in the company's performance as a key factor in their decision to boost the target. This substantial increase in the price target, representing a potential upside of over 50% from previous levels, has likely sparked additional interest from investors and contributed to the stock's impressive gains.