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.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
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