Mizuho Maintains Neutral Rating for Idacorp: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Mizuho has maintained its Neutral rating on Idacorp (NYSE:IDA) but lowered its price target from $99.00 to $88.00. Despite this adjustment, Idacorp's shares remained stable over the last 24 hours, trading at $88.58. The new price target suggests a slight decrease of 0.65% from the current price. Idacorp, an electric utility company, generates most of its energy from hydroelectric and coal-fired plants, serving mainly residential customers in the Northwestern United States.
March 05, 2024 | 5:00 pm
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Mizuho maintains a Neutral rating on Idacorp but lowers the price target from $99.00 to $88.00, indicating a potential 0.65% decrease from the current trading price.
The adjustment in price target by Mizuho reflects a cautious outlook on Idacorp's stock, potentially due to market conditions or company-specific factors. Given the minor decrease suggested, the impact is likely to be negative but not significantly so, as the price target is close to the current trading price. The Neutral rating indicates that Mizuho does not see substantial upside or downside in the near term, which aligns with the minor adjustment in the price target.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100