Why Argan Stock Swooned by Almost 8% Today
An analyst initiated coverage of the popular industrial stock.
Overview
An analyst initiated coverage of Argan (NYSE: AGX) stock early Monday morning. Unfortunately for the company and its investors, her opening evaluation was not positive. Buffeted by that headwind, Argan's stock fell by almost 8% that day.
That prognosticator is Dimple Gosai of Piper Sandler, who believes Argan rates an underweight (i.e., sell) at its current level. She set a price target of $273 per share for the industrial stock, which is 32% below its most recent closing price.
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Details
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.