Pinnacle West downgraded at BofA/Merrill As previously reported, BofA/Merrill downgraded Pinnacle West to Neutral from Buy. The firm downgraded shares to reflect contentious rate environment ahead and an uptick in solar installs. Price target is $55.
Pinnacle West upgraded to Outperform from Neutral at Credit Suisse As previously reported, Credit Suisse upgraded Pinnacle West to Outperform from Neutral and maintained its $71 price target. The firm views valuation as attractive with optionality to an economic recovery in Arizona and upside if the economy starts to get better.