Wells Fargo raised the firm’s price target on Pinnacle West (PNW) to $106 from $97 and keeps an Equal Weight rating on the shares. Following conversations with the companies, the firm revised its Q1 2026 estimates to reflect known and measurable drivers across its regulated utility coverage. Wells also raised its base value multiple to 17.5 times from 17 times.
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Read More on PNW:
- Pinnacle West initiated with a Hold at Truist
- Pinnacle West Highlights APS Growth Outlook and Investment Strategy
- Pinnacle West price target raised to $106 from $95 at Argus
- Pinnacle West price target raised to $101 from $97 at Barclays
- Pinnacle West price target raised to $99 from $96 at Morgan Stanley