Recent performance snapshot

IDACORP (IDA) has drawn fresh attention after a steady run in recent months, with the stock last closing at $135.33 and total return figures available across the past year and multi year periods.

IDA’s recent 7.0% 1 month share price return and 6.3% year to date share price return sit alongside a 1 year total shareholder return of 25.8%, suggesting that momentum has been building rather than fading.

If steady utilities like IDACORP have your attention, it may be a suitable moment to broaden your search with our screener of 24 power grid technology and infrastructure stocks as another area to investigate.

With IDACORP posting double digit annual revenue and net income growth and trading about 4.7% below the average analyst price target, you have to ask: is there still a buying opportunity here, or is future growth already priced in?

Most Popular Narrative: 4.1% Undervalued

With IDACORP last closing at $135.33 and the most followed narrative suggesting fair value of about $141.11, the gap between price and narrative view is relatively modest but still present.

Massive planned capital investments in transmission lines, energy storage, and generation assets, supported by a constructive regulatory environment and recent rate case filings, are set to expand IDACORP's rate base, enhancing regulated returns and long-term earnings growth.

Want to see what is behind that valuation gap? Revenue growth expectations, margin shifts and a future earnings multiple all sit at the core of this narrative. The numbers are more ambitious than you might think.

Result: Fair Value of $141.11 (UNDERVALUED)

However, this view can shift quickly if hydro dependent generation is affected by weak weather patterns or if regulators limit cost recovery on rising grid investments.

Another angle on valuation

Our DCF model actually paints a stricter picture, with an estimated value of about $113.09 per share. With IDACORP trading at $135.33, that output frames the stock as overvalued rather than modestly undervalued. Which perspective do you think better matches your expectations?

Build Your Own IDACORP Narrative

If this story does not quite fit your view, or you would rather build on the raw numbers yourself, you can shape a full IDACORP thesis in just a few minutes, Do it your way.

A great starting point for your IDACORP research is our analysis highlighting 2 key rewards and 2 important warning signs that could impact your investment decision.

Looking for more investment ideas?

If IDACORP has sharpened your interest, do not stop here. The market is full of other opportunities waiting for you to put them on your radar.

• Target stability with income potential by scanning companies that look like 14 dividend fortresses and see which names might suit a long term, cash focused approach.
• Pursue value by reviewing screener containing 25 high quality undiscovered gems and spot businesses that have strong fundamentals but are not yet widely followed.
• Limit surprises by filtering for 85 resilient stocks with low risk scores and focus on companies that score well on resilience and balance sheet strength.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.