** Jefferies cuts price target on energy utility company Idacorp IDA.N to $152 from $155, maintains "buy" rating

** New PT a 16.1% upside to the stock's last close

** Brokerage assumes a slightly lower sector valuation as peer price to earnings ratio for 2028 dropped to 16.0x from 16.3x, and applies a 3% wildfire risk

** Says there's a 3% wildfire risk to account for extreme weather exposure, as IDA faces elevated wildfire risk in Idaho, though it has not yet experienced a major event

** Jefferies raises co's FY25 EPS estimate by $0.03 on modest operational and maintenance expense pressure, while trimming FY26 by $0.03 to reflect the Idaho Power rate case settlement

** Five of eight brokerages rate the stock "buy" or higher and three "hold"; their median PT is $138.5, according to data compiled by LSEG

** As of last close, shares up 20.6% YTD

(Reporting by Megavarshini G. Somasundaram in Bengaluru)

((Megavarshini.SomasundaramGnanasundari@thomsonreuters.com))