Pinnacle West price target raised to $107 from $98 at BMO Capital

BMO Capital raised the firm’s price target on Pinnacle West (PNW) to $107 from $98 and keeps a Market Perform rating on the shares after its Q4 earnings beat. The firm is positive on the company having the potential to become a core utility holding, but first regulatory execution is the critical path over the remainder of the year, the analyst tells investors in a research note.