Idacorp initiated with an Equal Weight at Morgan Stanley

Morgan Stanley analyst David Arcaro initiated coverage of Idacorp with an Equal Weight rating and $92 price target. The analyst says that while accelerating sales growth has driven an inflection in the rate base outlook, Idacorp shares fairly balance the upside growth opportunity against wildfire risk in its service territory. Success in attracting data centers and manufacturing would be key to outperformance of the stock, the analyst tells investors in a research note.