Bank of America upgrades Pinnacle West Capital to 'buy', shares rise
18/03/2024 14:11
** Shares of utility firm Pinnacle West Capital PNW.N rise
~1.8% to $72.28
** Bank of America upgrades stock to "buy" from "neutral"
** Company can benefit from improving regulatory environment
in Arizona, with the utility's Integrated Resource Plan pointing
to better earnings and outlook, BofA says
** BofA raises PT to $80 from $71
** Six of 15 brokerages rate the stock "buy" and above, 9
"hold"; median PT is $75 - LSEG data
** Pinnacle shares marginally down so far this year
(Reporting by Seher Dareen in Bengaluru)
((Seher.Dareen@thomsonreuters.com;))
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