This ‘Underappreciated’ AI Stock Just Hit New Record Highs. Should You Buy Its Stock Here?

Argan (AGX) is attracting fresh buzz on Wall Street following J.P. Morgan's upgrade of the stock to "Overweight" and its approximately 45% larger price target. AGX stock surged over 13% to a record high this week, continuing a resilient year-long streak that has seen the company's value almost triple. This comes at a time when investors are becoming more eager to bet on second beneficiaries of the buildout of AI infrastructure, especially those with the potential to power the enormous power capacities required to fuel data centers.

The wider market has bounced in 2025 on a growing consensus that the U.S. grid will need hundreds of new gigawatts of generation by 2030. With its record backlog, cashed-up balance sheet, and track record of execution through subsidiary Gemma Power Systems, Argon is fast becoming one of the least obvious but most clear-cut plays on this transformation.