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Wells Fargo Sticks to Their Hold Rating for Pinnacle West Capital (PNW)

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In a report released today, Sarah Akers from Wells Fargo maintained a Hold rating on Pinnacle West Capital (PNWResearch Report), with a price target of $81.00. The company’s shares closed last Tuesday at $75.41.

According to TipRanks.com, Akers is a 4-star analyst with an average return of 9.0% and a 71.0% success rate. Akers covers the Utilities sector, focusing on stocks such as Chesapeake Utilities, Consolidated Edison, and Centerpoint Energy.

Pinnacle West Capital has an analyst consensus of Moderate Sell, with a price target consensus of $72.40, representing a -4.4% downside. In a report issued on April 20, Morgan Stanley also maintained a Hold rating on the stock with a $77.00 price target.

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Based on Pinnacle West Capital’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $799 million and net profit of $27.58 million. In comparison, last year the company earned revenue of $741 million and had a GAAP net loss of $19.39 million.

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Pinnacle West Capital Corp. is a holding company, which engages in providing energy and energy-related products. It offers regulated retail and wholesale electricity businesses and related activities, such as electricity generation, transmission and distribution through its subsidiary, Arizona Public Service Co. The company was founded on February 20, 1985 and is headquartered in Phoenix, AZ.

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