Wells Fargo & Company Forecasts Strong Price Appreciation for IDACORP (NYSE:IDA) Stock

Key Points

• Wells Fargo raised IDACORP’s price target to $155 from $154 while maintaining an “equal weight” rating, implying 7.38% potential upside. Analysts overall assign the stock a “Moderate Buy” rating with an average target of $155.29.
• IDACORP reported second-quarter EPS of $1.79, slightly above estimates, while revenue of $469.8 million fell short of expectations. The company increased the lower end of its 2026 earnings guidance, now forecasting $6.30–$6.45 per share.
• IDACORP shares recently traded at $144.34, and institutional investors own 89.10% of the stock. The company also saw insider selling, including a vice president’s sale of 1,500 shares.

IDACORP (NYSE:IDA - Get Free Report) had its price target increased by equities research analysts at Wells Fargo & Company from $154.00 to $155.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an "equal weight" rating on the energy company's stock. Wells Fargo & Company's price objective points to a potential upside of 7.38% from the company's current price.

Several other research firms have also commented on IDA. BTIG Research reaffirmed a "buy" rating and set a $160.00 price target on shares of IDACORP in a research report on Thursday, July 23rd. Mizuho set a $157.00 price objective on shares of IDACORP in a research report on Friday, May 1st. Barclays raised their target price on IDACORP from $159.00 to $167.00 and gave the stock an "overweight" rating in a report on Tuesday, May 5th. Wall Street Zen raised IDACORP from a "strong sell" rating to a "sell" rating in a report on Saturday, July 25th. Finally, Morgan Stanley restated an "overweight" rating and issued a $156.00 price target on shares of IDACORP in a research report on Wednesday, July 22nd. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $155.29.

IDACORP Stock Performance

NYSE:IDA traded up $2.44 during trading hours on Friday, reaching $144.34. The company had a trading volume of 65,673 shares, compared to its average volume of 516,972. The firm has a market cap of $8.00 billion, a price-to-earnings ratio of 24.01, a PEG ratio of 2.88 and a beta of 0.48. The company has a current ratio of 1.21, a quick ratio of 0.95 and a debt-to-equity ratio of 1.01. The firm's 50 day moving average price is $145.61 and its 200-day moving average price is $142.44. IDACORP has a 52 week low of $122.30 and a 52 week high of $154.91.

IDACORP (NYSE:IDA - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The energy company reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.01. IDACORP had a return on equity of 9.40% and a net margin of 18.60%.The firm had revenue of $469.80 million for the quarter, compared to analysts' expectations of $511.87 million. During the same period in the prior year, the firm earned $1.76 EPS. IDACORP has set its FY 2026 guidance at 6.300-6.450 EPS. On average, analysts forecast that IDACORP will post 6.39 EPS for the current year.

Insider Transactions at IDACORP

In other IDACORP news, VP James Bo D. Hanchey sold 1,500 shares of the business's stock in a transaction on Friday, May 29th. The shares were sold at an average price of $140.95, for a total value of $211,425.00. Following the sale, the vice president owned 2,138 shares in the company, valued at $301,351.10. The trade was a 41.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.33% of the company's stock.

Institutional Investors Weigh In On IDACORP

A number of hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in IDACORP by 79.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,940 shares of the energy company's stock worth $690,000 after acquiring an additional 2,625 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of IDACORP by 6.8% in the first quarter. Goldman Sachs Group Inc. now owns 342,496 shares of the energy company's stock valued at $39,805,000 after purchasing an additional 21,890 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in IDACORP by 8.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 143,677 shares of the energy company's stock worth $16,698,000 after purchasing an additional 10,855 shares during the last quarter. American Century Companies Inc. raised its stake in IDACORP by 12.6% during the second quarter. American Century Companies Inc. now owns 18,035 shares of the energy company's stock valued at $2,082,000 after purchasing an additional 2,016 shares in the last quarter. Finally, Invesco Ltd. lifted its position in IDACORP by 5.7% during the second quarter. Invesco Ltd. now owns 247,190 shares of the energy company's stock valued at $28,538,000 after purchasing an additional 13,297 shares during the last quarter. 89.10% of the stock is currently owned by hedge funds and other institutional investors.

IDACORP News Roundup

Here are the key news stories impacting IDACORP this week:

• Positive Sentiment: IDACORP reported second-quarter 2026 net income of $102.6 million, or $1.79 per diluted share, up from $95.8 million, or $1.76 per share, a year earlier. EPS exceeded analyst estimates of approximately $1.75–$1.78. IDACORP Second Quarter 2026 Results
• Positive Sentiment: The company raised the lower end of its 2026 EPS guidance to $6.30–$6.45 from $6.25–$6.45, bringing the range closer to the analyst consensus of $6.39. Management cited customer growth, rate changes, revenue from large contract customers and the June commissioning of 250 megawatts of batteries as key contributors. IDACORP Raises 2026 Guidance
• Positive Sentiment: First-half net income increased to $170.6 million from $155.4 million in the prior-year period, indicating continued earnings momentum. IDACORP Q2 Earnings Outpace Estimates
• Neutral Sentiment: Quarterly revenue was $469.8 million, below the approximately $511.9 million analyst expectation, although revenue increased year over year. The guidance assumes normal weather and less than $15 million of additional tax credits, leaving some sensitivity to operating conditions and regulatory outcomes. IDACORP Q2 2026 Earnings Call Transcript
• Negative Sentiment: Recent insider activity showed four sales totaling roughly 5,300 shares and no purchases, a modest potential confidence signal for investors.

IDACORP Company Profile

IDACORP, Inc is a diversified energy holding company headquartered in Boise, Idaho, whose primary subsidiary, Idaho Power Company, operates as a regulated electric utility. Through Idaho Power, the company provides generation, transmission and distribution services to residential, commercial and industrial customers. The company's service territory spans southern Idaho and eastern Oregon, where it serves over half a million customers with a mix of hydroelectric, natural gas, wind and solar generation assets.

Idaho Power's generation portfolio is anchored by a network of hydroelectric facilities along the Snake River system, complemented by natural-gas-fired plants and growing investments in renewable resources.

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