UPDATE: Barclays Downgrades Pinnacle West Capital (PNW) to Equalweight

August 4, 2021 4:02 AM EDT
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Price: $73.82 +0.64%

Rating Summary:
    2 Buy, 11 Hold, 6 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 7 | Down: 15 | New: 24
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(Updated - August 4, 2021 4:20 AM EDT)

Barclays analyst Eric Beaumont downgraded Pinnacle West Capital (NYSE: PNW) from Overweight to Equalweight with a price target of $84.00 (from $100.00).

The analyst comments "A Recommended Order & Opinion below staff recommendations in the ongoing APS rate case puts the long-term growth outlook for PNW in jeopardy, in our view. We downgrade PNW to Equal Weight (from Overweight) with a $84 price target given our view of this as a departure from historical precedent."

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 $80.98 yesterday.

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