Jefferies cuts target for Pinnacle West stock from USD 129.00 to USD 109.00

Published on 10/06/2026 at 11:27 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Second-quarter revenue rose 7.06 percent to USD 1.46 billion. Pinnacle West stock costs EUR 85.90 on October 6, 2026 versus EUR 85.50.

Pinnacle West, US7234841010, Illustration mit AI erstellt.

Jefferies lowered its Pinnacle West price target from USD 129.00 to USD 109.00 on October 5, 2026, while keeping a Buy rating, as Markets Insider reported. Pinnacle West stock was trading at EUR 85.90 at Lang & Schwarz on October 6, 2026, giving investors a fresh euro reference after the target reduction.

Jefferies cuts its valuation anchor

The move takes Jefferies' target from USD 129.00 to USD 109.00, a reduction of 15.50 percent calculated from the former target. Its Buy rating remains in place, but the lower target places greater weight on execution in the Arizona utility business.

Jefferies linked its view to an Arizona Corporation Commission order expected on December 17 and a higher growth target planned for February, according to Markets Insider. Those dates make regulation and the next growth framework important reference points for the valuation debate.

Revenue grows as earnings soften

In the second quarter of 2026, Pinnacle West reported revenue of USD 1.46 billion, up 7.06 percent from USD 1.36 billion in the second quarter of 2025. The company reported diluted earnings per share of USD 1.43, down 9.49 percent from USD 1.58 and below the USD 1.47 consensus estimate, according to ScanX.

Management reaffirmed fiscal 2026 weather-normalized earnings guidance of USD 4.55-4.75 per diluted share. Customer growth reached 2.10 percent in the quarter, while weather-normalized sales growth was 5.60 percent, showing why demand expansion matters even as higher interest and depreciation costs pressure earnings.

Analysts keep a divided view

Scotiabank began coverage with a Sector Outperform rating and a USD 104.00 price target on September 29, 2026, according to MarketBeat. The same report described a Hold consensus, with four Buy ratings and eleven Hold ratings, alongside an average target of USD 104.21.

The next scheduled earnings release is November 3, 2026, before the US market opens, with a conference call at 11:00 a.m. ET, according to ScanX.

Stock trades above the prior close

Pinnacle West stock was trading at EUR 85.90 at Lang & Schwarz on October 6, 2026 at 11:17 a.m. CEST, plus 0.47 percent versus the prior close of EUR 85.50 on October 5, 2026. The primary NYSE listing had a market capitalization of USD 11.6 billion and a 52-week range of USD 86.18 to USD 111.16 as of October 5, 2026.

The further course of trading is shown by the continuously updated real-time quote of Pinnacle West stock.