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.”
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter