RBC Capital analyst Stephen D’Ambrisi resumed coverage of Pinnacle West (PNW) with a Sector Perform rating and $99 price target The firm appreciates the uplift from load growth but believes that the price benefits of regulatory improvement in Arizona are still unknown and likely not fully realized in earnings until 2028. Load growth continues to drive earnings and future CapEx needs, the firm adds.
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PNW:
- Pinnacle West price target raised to $93 from $87 at Morgan Stanley
- Pinnacle West price target raised to $99 from $95 at BMO Capital
- TD launches utilities sector with Vistra, PG&E top picks
- Pinnacle West initiated with a Hold at TD Cowen
- Pinnacle West price target lowered to $97 from $100 at KeyBanc