Mizuho lowered the firm’s price target on Pinnacle West to $77 from $79 and keeps a Buy rating on the shares. The firm trimmed 2024 and 2025 earnings estimates to reflect recent messaging from Pinnacle management that regulatory lag will continue post-rate case conclusion. However, the analyst continues to believe the pending rate case will be resolved in a constructive manner.
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- Pinnacle West price target raised to $79 from $77 at Barclays
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