Stock Analyst Note
Pinnacle West Earnings: Demand Growth Supports Capital Investment Opportunities
We are reaffirming our $77 fair value estimate for Pinnacle West after the company reported earning $0.15 per share during the first quarter, up from a $0.03 loss during the first quarter of 2023. Pinnacle West had no earnings in the quarter after excluding a one-time $0.15 per share gain on the sale of Bright Canyon Energy.