Mizuho upgraded Idacorp (IDA) to Outperform from Neutral with a price target of $116, up from $102. The company reported “impressive” Q3 results, the analyst tells investors in a research note. The firm says Idacorp significantly raised its capex guidance following the completion of its request for proposals, resulting in an “impressive” 16.9% annual rate base growth, “easily the highest in the industry.” The stock’s current valuation is not reflective of the company’s “robust growth prospects, supportive regulation, and strong management team.”
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Read More on IDA:
- IDACORP Reports Strong Q3 Results and Guidance Boost
- IdaCorp Reports Strong Q3 2024 with Earnings Growth
- Idacorp reports Q3 EPS $2.12, consensus $2.18
- IdaCorp (IDA) Q3 Earnings Cheat Sheet
- Idacorp boosts dividend to 86c per share
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