Morgan Stanley raised the firm’s price target on Pinnacle West (PNW) to $99 from $96 and keeps an Equal Weight rating on the shares. The firm is updating the price targets for Regulated & Diversified Utilities / IPPs in North America under its coverage, the analyst tells investors. In February, utilities outperformed the S&P’s return. Additionally, recent discussions in the space were broadly constructive, with companies highlighting growth opportunities as well as optimism on load growth and signing deals with data centers, the firm adds.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PNW:
- Pinnacle West Highlights Growth and Clean-Energy Utility Franchise
- Pinnacle West price target raised to $97 from $90 at Barclays
- Pinnacle West price target raised to $107 from $98 at BMO Capital
- Pinnacle West price target raised to $100 from $97 at TD Cowen
- Pinnacle West price target raised to $103 from $91 at Mizuho