KeyBanc analyst Sophie Karp lowered the firm’s price target on Pinnacle West (PNW) to $97 from $100 and keeps an Overweight rating on the shares. The firm sees the Arizona regulatory environment improving structurally going forward given the 2025 GRC, which is expected to reduce regulatory lag and validate its thesis. In addition, KeyBanc sees the state as well positioned to capitalize on the data economy and industrial load growth, as well as positive population trends. Also, AZ has low climate risk compared to other Western SMIDs, which should help the company stand out from the pack. Pinnacle has maintained its 2025 outlook, which is in line with the firm’s expectations.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PNW:
- Pinnacle West Capital Highlights Strategic Growth Focus
- Pinnacle West price target raised to $101 from $95 at UBS
- Pinnacle West price target raised to $95 from $93 at Barclays
- Pinnacle West price target lowered to $87 from $89 at Morgan Stanley
- Pinnacle West price target lowered to $95 from $98 at UBS