Shares of Argan Inc. (AGX) are surging 5.14% in pre-market trading on Thursday, following the release of strong Q1 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, reported its Q1 2026 earnings after the market close on Wednesday. While specific details were not provided, the company's results appear to have impressed investors, 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 on Thursday morning, maintaining a Buy rating on the shares. The analyst cited strong margins in the company's performance as a key factor in the upgrade. This substantial increase in the price target, representing a potential upside of over 50% from the previous target, has likely sparked additional interest from investors.

The combination of strong quarterly results and the vote of confidence from Wall Street analysts appears to be driving the pre-market surge in Argan's stock price. Investors will be watching closely to see if this momentum carries into regular trading hours and beyond.