BofA Merrill upgraded Pinnacle West (NYSE:PNW) from Underperform to Neutral in a report released today.
- Updated: November 27, 2016
BofA Merrill has upgraded Pinnacle West (NYSE:PNW) from Underperform to Neutral in a report released on 11/22/2016.
Previously on 2/29/2016, Evercore ISI released a statement about Pinnacle West (NYSE:PNW) increased the target price from $66.00 to $67.00. At the time, this indicated a possible downside of -0.02%.
Just yesterday Pinnacle West (NYSE:PNW) traded 1.87% higher at $74.10. Pinnacle West’s 50-day moving average is $74.28 and its 200-day moving average is $76.18. The last stock price is down -1.10% from the 200-day moving average, compared to the Standard & Poor's 500 Index which has decreased -0.03% over the same time period. 358,691 shares of PNW traded hands, down from an average trading volume of 768,400
Recent Performance Chart
Pinnacle West has one year low of $60.70 and a 52 week high of $82.78 with a P/E ratio of 19.60 and has a market cap of $0.
In addition to BofA Merrill reporting its target price, a total of 13 firms have reported on the stock. The consensus target price is $72.54 with 0 firms rating the stock a strong buy, 0 firms rating the stock a buy, 0 firms rating the stock a hold, 0 brokers rating the stock a underperform, and finally 0 brokers rating the stock a sell.
Brief Synopsis On Pinnacle West (NYSE:PNW)
Pinnacle West Capital Corporation is a holding company that operates primarily through its subsidiaries. The Company operates through electricity segment, which consists of traditional regulated retail and wholesale electricity businesses (primarily electric service to Native Load customers) and related activities, and includes electricity generation, transmission and distribution. Its subsidiaries include Arizona Public Service Company (APS), a vertically integrated electric utility that provides either retail or wholesale electric service to the State of Arizona, with the exceptions of about one-half of the Phoenix metropolitan area, the Tucson metropolitan area and Mohave County in northwestern Arizona; El Dorado Investment Company (El Dorado) and Bright Canyon Energy Corporation (BCE). It owns and leases over 6,200 megawatt (MW) of regulated generation capacity, and holds a mix of both long-term and short-term purchased power agreements for additional capacity.
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