UPDATE: Citigroup Downgrades Pinnacle West Capital to Neutral on Valuation Citigroup reduced its rating on Pinnacle West Capital (NYSE: PNW) from Buy to Neutral but maintains its price target at $52. Citigroup commented, "We are downgrading shares of P

Citigroup reduced its rating on Pinnacle West Capital PNW from Buy to Neutral but maintains its price target at $52. Citigroup commented, "We are downgrading shares of Pinnacle West Capital Corp. to Neutral from Buy. Our downward revision is strictly based on valuation as shares have been a material outperformer since late last year. Our Buy rating has predominately been a lone wolf relative to consensus, but now we believe it is time to take a step back, as strong fundamentals appear to be reflected in the share price." Pinnacle West Capital closed at $52.19 on Tuesday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorDowngradesPrice TargetIntraday UpdateAnalyst RatingsCitigroup
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!