- The consensus price target for Pinnacle West Capital Corporation (NYSE:PNW) has shown a modest upward trend, indicating increased analyst confidence.
- Credit Suisse sets a lower price target of $73 for Pinnacle West, suggesting concerns about the company’s earnings potential.
- Pinnacle West has been upgraded to a Zacks Rank #2 (Buy), reflecting optimism about its future earnings performance.
Pinnacle West Capital Corporation (NYSE:PNW) is a significant entity in the energy sector, primarily operating in Arizona through its subsidiary, Arizona Public Service Company. The company is engaged in generating, transmitting, and distributing electricity, utilizing a diverse energy mix that includes coal, nuclear, gas, oil, and solar. With an extensive infrastructure, Pinnacle West serves around 1.3 million customers.
The consensus price target for PNW’s stock has shown some variation over different periods. Last month, the average price target was $96, while last quarter it was slightly lower at $93.33. A year ago, the target was $94.89. This indicates a modest upward trend over the past quarter, suggesting increased analyst confidence in the company’s stock performance.
Despite this positive trend, Credit Suisse has set a lower price target of $73 for Pinnacle West, as highlighted by Credit Suisse. This suggests that while there is optimism, there are also concerns about the company’s ability to meet earnings expectations. Investors should be aware of these differing perspectives when considering their investment strategies.
Pinnacle West has been upgraded to a Zacks Rank #2 (Buy), indicating increased optimism about its earnings potential. This upgrade could lead to a rise in the stock’s price. However, it is important for investors to understand the key expectations surrounding the company’s performance, as it may not have the optimal combination of factors for an earnings beat.
For investors and stakeholders, these changes in the consensus price target and analyst ratings provide valuable insights into how the market views Pinnacle West’s future prospects. It is crucial to consider recent company news and earnings reports that might influence these targets and expectations.
