Barclays Reiterates an 'Equalweight' on Pinnacle West Capital (PNW); Preliminary Settlement Term Sheet Filed

Barclays reiterates an 'Equalweight' on Pinnacle West Capital (NYSE: PNW) price target raised from $46 to $47.

Barclays analyst says, "On December 9, the Arizona Corporation Commission (ACC) Staff filed with the ACC a preliminary settlement term sheet related to Arizona Public Service Company's (APS) pending general retail rate case (GRC).: We reiterate our rating and we are increasing our price target $1, to $47. This is predicated on our unchanged '13E EPS of $3.56 on a 13.3X average group PE multiple."

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 $46.22 yesterday.

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