Pinnacle West Capital Price Target Raised to $109

Citigroup analysts increase price objective on utility company's stock

Feb. 26, 2026 at 9:03pm

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Analysts at Citigroup have raised their price target for shares of Pinnacle West Capital (NYSE:PNW) from $100 to $109, while maintaining a "neutral" rating on the stock. The new price target represents a potential upside of 9.51% from the stock's previous close.

Why it matters

Pinnacle West Capital is a major utility provider in Arizona, serving over 1 million residential, commercial and industrial customers. The price target increase by Citigroup suggests analysts see potential upside in the company's stock, despite maintaining a neutral rating.

The details

In a research report, Citigroup cited the company's regulated operations and diversified generation portfolio, which includes natural gas, nuclear, and growing investments in solar and battery storage. The report also noted Pinnacle West Capital's focus on delivering safe, reliable power while meeting evolving environmental standards.

  • Citigroup issued the updated price target and rating on Thursday, February 26, 2026.

The players

Pinnacle West Capital

A publicly traded utility holding company headquartered in Phoenix, Arizona that generates, transmits and distributes electricity to over 1 million customers across central and southern Arizona.

Citigroup

A global financial services company that provides investment banking, securities, asset management and consumer banking services.

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The takeaway

The price target increase by Citigroup suggests analysts see potential upside in Pinnacle West Capital's stock, despite maintaining a neutral rating, underscoring the company's position as a major utility provider in Arizona with a diversified generation portfolio focused on delivering reliable power while meeting environmental standards.