UBS Remains Sidelined on Pinnacle West Capital (PNW) Ahead of Update

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."

For an analyst ratings summary and ratings history on Pinnacle West Capital click here. For more ratings news on Pinnacle West Capital click here.

Shares of Pinnacle West Capital closed at $72.81 yesterday.

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