Truist analyst Richard Sunderland initiated coverage of Pinnacle West (PNW) with a Hold rating and $108 price target The firm launched coverage of 20 names in the power and utilities group. Vertically integrated electric utilities are “clear winners” in building the infrastructure to serve load growth for data centers, the analyst tells investors in a research note. Truist believes should lean into growth in the space and names American Electric Power, Entergy, and Xcel Energy top picks. It also likes Ameren, CMS Energy, and DTE Energy.
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