
IDACORP (IDA) Stock Forecast & Price Target
IDACORP (IDA) Analyst Ratings
Bulls say
Idacorp Inc. has significantly increased its capital plan by 21% compared to the previous year, indicating a strong commitment to meet the robust growth in the Northwestern United States. This elevated capital expenditure is expected to support a return on equity (ROE) close to the 9.12% level while benefitting from a supportive regulatory environment and industry-leading load growth. Additionally, updated earnings per share (EPS) estimates for 2024 and 2025 have been raised to $5.40 and $5.70, respectively, reflecting positive revenue growth despite a lower authorized ROE.
Bears say
Idacorp's financial outlook appears negatively impacted by a decline in the compound annual growth rate (CAGR) of its rate base, despite a significant increase in capital expenditures. Additionally, revised earnings per share (EPS) estimates for 2024 and 2025 indicate a downward adjustment, reflecting concerns over updated guidance and capital plans. The expectation of increased capital spending coupled with higher financing costs suggests that Idacorp may need to file rate cases more frequently, contributing to ongoing investor uncertainty and leading to underperformance in stock valuation.
This aggregate rating is based on analysts' research of IDACORP and is not a guaranteed prediction by Public.com or investment advice.
IDACORP (IDA) Analyst Forecast & Price Prediction
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