Jefferies upgrades Idacorp to 'buy', predicts robust assets value growth
ReutersApr 2, 2025 1:09 PM
Brokerage Jefferies upgrades energy utility company Idacorp IDA.N to "buy" from "hold"; raises PT to $133 from $118
New PT represents 11.7% upside to stock's last close
Brokerage says IDA's rate base is expected to grow at an industry-leading rate of 16.7% in a five-year period
Rate base is the total value of assets held by an energy utility company that includes power plants, transmission lines, equipment and infrastructure
Brokerage sees upsides to a pending data center project and investment in new gas plants to meet winter demand
4 out of 8 brokerages rate the stock "buy" or higher, 4 rate "hold"; their median PT is $122 as per data compiled by LSEG
Up to last close, IDA stock up 21.5% in the past 12 months
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