Morgan Stanley raised the firm’s price target on Idacorp (IDA) to $121 from $110 and keeps an Equal Weight rating on the shares. After a “dynamic” 2024 for the utilities, Morgan Stanley expects data centers to drive the outlook for the industry in 2025, the analyst tells investors in a research note. The firm calls for deals and tightening markets to bring further upside in independent power producers. It believes renewables are “overly punished” and would seek “underappreciated growth upside” in regulated utilities.
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