Pinnacle West price target raised to $100 from $98 at Guggenheim

Guggenheim raised the firm’s price target on Pinnacle West (PNW) to $100 from $98 and keeps a Buy rating on the shares. The firm, which shuffled ratings in the utilities sector, argues that the group is “oversold, undervalued” and should outperform in 2025. In its ratings reworking, the firm upgraded six stocks to Buy and downgraded four to Neutral, adding that utilities are “not an interest rate call, not a yield call… it’s a GARP call,” describing the sector as offering “growth at a reasonable price.”