BofA raised the firm’s price target on Pinnacle West to $76 from $69 and keeps an Underperform rating on the shares after marking to market its model to apply the latest peer group multiple and a higher 2025 EPS estimate. Given the stock’s strong relative year-to-date performance, BofA continues to see shares as fundamentally over-valued based on fundamentals and peer valuations.
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Published first on TheFly
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Read More on PNW:
- Credit Suisse upgrades Pinnacle West to Outperform, raises price target to $80
- Pinnacle West upgraded to Outperform from Neutral at Credit Suisse
- Pinnacle West price target lowered to $74 from $76 at Mizuho
- Pinnacle West seesFY23 EPS $3.95 to $4.15, consensus $4.14
- Pinnacle West reports Q4 EPS (21c), consensus (18c)