BUZZ-Jefferies cuts Idacorp's PT on wildfire risk
Jefferies has reduced Idacorp's price target from $155 to $152, citing a 3% wildfire risk in Idaho. Despite this, the firm maintains a "buy" rating, noting a 16.1% upside. The adjustment reflects a lower sector valuation and changes in EPS estimates due to operational pressures and rate case settlements. Shares have risen 20.6% YTD, with a median PT of $138.5 from brokerages.
Jefferies cuts price target on energy utility company Idacorp (IDA.N) to $152 from $155, maintains “buy” rating
New PT a 16.1% upside to the stock’s last close
Brokerage assumes a slightly lower sector valuation as peer price to earnings ratio for 2028 dropped to 16.0x from 16.3x, and applies a 3% wildfire risk
Says there’s a 3% wildfire risk to account for extreme weather exposure, as IDA faces elevated wildfire risk in Idaho, though it has not yet experienced a major event
Jefferies raises co’s FY25 EPS estimate by $0.03 on modest operational and maintenance expense pressure, while trimming FY26 by $0.03 to reflect the Idaho Power rate case settlement
Five of eight brokerages rate the stock “buy” or higher and three “hold”; their median PT is $138.5, according to data compiled by LSEG
As of last close, shares up 20.6% YTD
