IDACORP's Valuation Shifts Amidst Ambitious Five-Year Capital Spending Plans

IDACORP recently announced a 20% increase in its five-year capital spending plans due to the cancellation of a major wind project. The share price has responded positively, closing at $130.32 with a year-to-date return of 20.12%. The company's fair value is estimated at $140.88, indicating potential upside. However, regulatory setbacks or weather swings could challenge IDACORP's solid outlook.