IDACORP, Inc. (IDA) PT Raised to $115 at Jefferies

Jefferies analyst Julien Dumoulin-Smith raised the price target on IDACORP, Inc. (NYSE: IDA) to $115.00 (from $112.00) while maintaining a Hold rating.

The analyst comments "The uplift in the capital and rate base plan and, most notably, the +7.7% sales growth profile continues to differentiate IDA from the average small cap utility. This profile represents one of the fastest in the utilities sector supporting more resource needs to come. IDA trades at what we consider a justified premium to peers, given the outlook. We raise our estimates and PT to reflect the rate base uplift, sales forecasts and financing assumptions."

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