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A report from Ladenburg Thalmann downgrades its rating from Buy to Neutral and raises its price target from $42 to $43 on IDACORP
IDA.
Ladenburg Thalmann writes about its adjusted estimates, “Our revised price target of $43 per share (previously $42 p/s) implies a 2012/2013 P/E of 14.2x/13.9x our EPS estimates of $3.02/$3.10 (previously $3.02/$3.15). Our 2011 EPS estimate is now $3.40 (previously $3.53) and reflects year-to-date results and net impact of tax method changes ($38m)”.
IDA closed Thursday at $41.33.
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