Research Alert: CFRA Keeps Hold Opinion On Shares Of Pinnacle West Capital Corporation
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CFRA maintains a Hold opinion on Pinnacle West Capital Corporation shares, lowering the 12-month target to $103. They raised the 2026 EPS estimate to $4.73 but lowered the 2027 EPS to $5.58. Despite higher interest costs and share dilution, strong transmission investment returns and retail electricity sales growth are expected. The company anticipates a 3.4% annual dividend growth from 2025 to 2028, with a payout ratio of 78.5% in 2026, which is above peers but expected to moderate over time.
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