Mizuho downgrades Pinnacle West Capital to 'neutral', cuts PT

Pinnacle West Capital

09/09/2025 13:03

** Brokerage Mizuho Securities cuts price target on U.S. utility Pinnacle West Capital PNW.N to $90 from $102, downgrades stock to "neutral" from "outperform"

** New PT represents 2.4% upside to stock's last close

** Mizuho says while PNW's load growth is backed by large manufacturing facilities and data centers, it expects regulatory lags will eat away at most of the accretion until 2028/29

** Says YTD, the stock has underperformed compared to peers, adding that shares will see more pressure as investors look towards 2026

** 5 of 16 brokerages rate the stock "buy" or higher, and 11 "hold"; their median PT is $98 - data compiled by LSEG

** Up to last close, stock up 3.6% YTD

(Reporting by Pranav Mathur in Bengaluru)

((Pranav.Mathur@thomsonreuters.com;))