Shares of Argan Inc. (AGX) are surging 10.69% in Thursday's intraday trading, building on the momentum from pre-market activity. The significant uptick comes on the heels of the company's strong first-quarter 2026 financial results and a substantial price target upgrade from Wall Street analysts.

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 performance appears 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, 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 the previous target, has sparked significant interest from investors.

The combination of strong quarterly results and the vote of confidence from Wall Street analysts is driving the surge in Argan's stock price. As the trading session progresses, investors will be closely watching to see if this momentum can be sustained, potentially setting the stage for further gains in the near term.