UBS Remains Sidelined on Pinnacle West Capital (PNW) Ahead of Update
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UBS maintained a Neutral rating on Pinnacle West Capital (NYSE: PNW), and cut the price target to $78.00 (from $80.00), ahead of EEI update.
Analyst Julien Dumoulin-Smith commented, "Despite the risk of a weaker 3Q due to mild weather, we see a positive skew on 2017 EPS guidance likely in the $4.10-4.30 range, if not better, but we think the real story remains both capacity RFP, rate case, and longer-dated EPS guidance."
Shares of Pinnacle West Capital closed at $72.81 yesterday.
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