Pinnacle West price target raised to $99 from $95 at BMO Capital

BMO Capital raised the firm’s price target on Pinnacle West (PNW) to $99 from $95 and keeps a Market Perform rating on the shares. The company should report in-line EPS and is well-positioned on the year amid the favorable weather vs. normal continuing through the quarter, but focus should continue to be on the initiation of 2026 guidance and the company’s refreshed capital plan, the analyst tells investors in a research note. The firm believes minimal growth into 2026 has been well syndicated.