Pinnacle West stock trades at EUR 80.64 as Scotiabank starts coverage

Published on 09/29/2026 at 17:21 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Scotiabank opened coverage on September 29, 2026 with a USD 104.00 target for Pinnacle West. Second-quarter EPS missed consensus while revenue rose 7.10 percent year over year.

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Pinnacle West stock (ISIN US7234841010) was trading at EUR 80.64 at Lang & Schwarz on September 29, 2026 at 5:09 p.m. CEST, up 0.42 percent versus the prior close of EUR 80.30. Scotiabank began coverage with a Sector Outperform rating and a USD 104.00 price target, according to MarketBeat on September 29, 2026.

Scotiabank sets USD 104.00 target

The new rating gives Pinnacle West a fresh analyst benchmark after a difficult earnings reaction. Scotiabank's USD 104.00 target is a distinct signal from Morgan Stanley's September 18, 2026 reduction to USD 89.00 from USD 94.00 while retaining an Equal Weight rating, as reported by MarketScreener.

That split matters because the latest operating figures combine stronger demand with cost pressure. The company guides to fiscal-year 2026 earnings of USD 4.55-4.75 per share, while the analyst consensus cited by Zacks is USD 4.74.

Revenue rises as costs climb

For the second quarter of 2026, Pinnacle West reported USD 1.43 in earnings per share, below the USD 1.49 consensus estimate. Revenue reached USD 1.46 billion, above the USD 1.40 billion consensus and up 7.10 percent from USD 1.36 billion in the year-ago quarter, according to Zacks.

The comparison shows why the stock has attracted differing analyst views. Operating income was USD 305.7 million, down 0.60 percent from USD 307.6 million a year earlier, while operating expenses rose 9.40 percent to USD 1.15 billion. The company also expects 2026 revenue of USD 5.56-5.66 billion and plans APS investment of USD 2.60 billion in 2026.

NYSE quote remains below yearly high

Pinnacle West's primary NYSE quote was USD 91.72 at 11:20 a.m. ET on September 29, 2026. That price sat between the USD 86.18 52-week low and the USD 111.16 52-week high, while market capitalization stood at USD 11.1 billion.

Lang & Schwarz quote at 5:09 p.m.

Pinnacle West stock was trading at EUR 80.64 at Lang & Schwarz on September 29, 2026 at 5:09 p.m. CEST, up 0.42 percent versus the Lang & Schwarz prior close of EUR 80.30 on September 28, 2026. The next valuation checkpoint is the gap between the USD 104.00 Scotiabank target and the company's cost-sensitive earnings outlook.