IDACORP (IDA) Stock Forecast: What Could Drive It in 2026
Last updated July 2026
Short answer
What is actually driving IDACORP (IDA) right now is Data-center and industrial load growth: Large customers including Meta, Micron, and Chobani are driving demand well above typical utility trends, with the 2025 Integrated Resource Plan projecting roughly 8% annual retail sales growth over five years. Revenue (TTM) is ~$1.9B. If that keeps playing out, the setup is favourable; the risk to it is as a capital-intensive regulated utility, IDACORP depends on regulators granting adequate rates and returns on its large spending plan, and unfavorable rate-case outcomes would pressure earnings. No one can predict where IDA trades, and Walnut does not publish targets, so treat this as a scenario, not a price target or prediction.
What could drive IDACORP (IDA) higher?
1. Data-center and industrial load growth
Large customers including Meta, Micron, and Chobani are driving demand well above typical utility trends, with the 2025 Integrated Resource Plan projecting roughly 8% annual retail sales growth over five years. This load growth expands the rate base that Idaho Power earns a regulated return on. It also underpins a record multi-year capital spending plan on generation, transmission, and firming capacity.
2. Customer growth and rate-base expansion
Idaho remains one of the faster-growing US states, and IDACORP reported customer counts up about 2.3% year over year in early 2026. Steady additions across residential, commercial, and industrial segments feed durable demand for regulated investment. More customers and more infrastructure translate into a larger earning asset base over time.
3. Constructive regulatory outcomes
The Idaho Public Utilities Commission approved roughly a $110 million (about 7.5%) rate increase effective January 2026, helping recover recent investment. Mechanisms like the Idaho fixed cost adjustment and tax-credit amortization give the utility tools to manage earnings within its guidance range. Continued constructive regulation is central to converting capex into earnings.
4. Dividend and reaffirmed guidance
IDACORP reaffirmed full-year 2026 guidance of roughly $6.25 to $6.45 in diluted EPS and pays an annualized dividend of about $3.52 per share. The company has a long record of annual dividend increases supported by regulated cash flows. That income profile is a core part of the appeal for utility-focused holders.
What could weigh on IDA?
As a capital-intensive regulated utility, IDACORP depends on regulators granting adequate rates and returns on its large spending plan, and unfavorable rate-case outcomes would pressure earnings. Heavy financing needs make the stock sensitive to interest rates, and rising utility bills tied to serving big data-center loads have drawn political and customer pushback in Idaho. Its hydro-heavy fleet exposes it to drought and weather variability, while concentration in a few very large industrial customers adds demand risk if any pull back. The valuation, at a mid-20s trailing earnings multiple, prices in continued growth, so disappointments could weigh on the shares.
Where IDA trades today
A forecast starts from where the stock actually is. These are IDA's current figures, not a projection: the drivers and risks above are what would move them.
Snapshot for IDA as of July 2026, sourced from Yahoo Finance and may be delayed. Valuation figures move with price and earnings; verify the current numbers with your broker before deciding.
How to think about a IDA forecast
Rather than chasing a price target, it tends to help to weigh the drivers above against the risks, decide how long you are willing to hold, and size the position so a wrong call is survivable. A “forecast” is really a probability-weighted view of those drivers playing out, not a number.
For the full picture, see the IDA guide and whether IDA is a buy. In Walnut you can pressure-test the thesis against your real portfolio.
The bottom line on the IDA outlook
The bottom line: what is driving IDACORP (IDA) is Data-center and industrial load growth, with revenue (ttm) at ~$1.9B. If that keeps playing out the setup is favourable; the risk is as a capital-intensive regulated utility, IDACORP depends on regulators granting adequate rates and returns on its large spending plan, and unfavorable rate-case outcomes would pressure earnings. No one can predict the price, so treat any IDA forecast as a scenario, not a target or prediction, and decide from your own thesis and time horizon. Walnut is not an investment adviser.
More on IDA
- IDA stock guide (what the company does, ETFs that hold it, similar stocks, and the themes it fits)
- Is IDA a buy? (the case for, the risks, and a framework to decide)
- Does IDA pay a dividend?
Build a basket around IDA with Walnut
Use IDACORP as one constituent in a thematic basket Walnut's AI helps you assemble. Describe a thesis you believe in, the AI proposes the holdings and weights, and you approve before any broker order.
FAQ
What is the forecast for IDACORP (IDA)?
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No one can reliably predict where IDA will trade, and Walnut does not publish price targets. What is more useful is the setup: the drivers that could push IDACORP higher and the risks that could weigh on it. This page lays out both so you can form your own view. Not a recommendation.
What could drive IDA higher?
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The main growth drivers are Data-center and industrial load growth; Customer growth and rate-base expansion; Constructive regulatory outcomes. Whether they play out is the real question, not a guaranteed path.
What are the risks to IDA?
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As a capital-intensive regulated utility, IDACORP depends on regulators granting adequate rates and returns on its large spending plan, and unfavorable rate-case outcomes would pressure earnings. Heavy financing needs make the stock sensitive to interest rates, and rising utility bills tied to serving big data-center loads have drawn political and customer pushback in Idaho. Its hydro-heavy fleet exposes it to drought and weather variability, while concentration in a few very large industrial customers adds demand risk if any pull back. The valuation, at a mid-20s trailing earnings multiple, prices in continued growth, so disappointments could weigh on the shares.
Will IDA stock go up in 2026?
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Nobody knows, and anyone who says they do is guessing. IDACORP's direction depends on whether the drivers above outweigh the risks, plus the broader market. Focus on the thesis and your time horizon rather than a single-year call.
Is IDA a buy?
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That depends on your thesis, time horizon, and what you already own, not on a forecast. See the IDA "is it a buy?" page for a framework. Walnut is not an investment adviser.
Why is Idaho Power's demand growing so fast?
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Large industrial and data-center customers such as Meta, Micron, and Chobani are expanding in Idaho, and the state's population is growing quickly. Idaho Power's 2025 resource plan projects retail sales growth well above the national utility average.
How did IDACORP perform in Q1 2026?
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First-quarter 2026 net income rose to about $68 million and diluted EPS reached roughly $1.21, up from $1.10 a year earlier, even though total revenue declined about 7% to around $403 million. Higher retail revenue per megawatt-hour and customer growth drove the profit gain.
Walnut is informational, not investment advice. This page describes drivers and risks; it is not a price forecast, target, or recommendation. Markets are uncertain and past performance does not predict future results.