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Upgrade Alert for Pinnacle West Capital (PNW)

By Shiri Gupta

Pinnacle West Capital (NYSE:PNW) was upgraded from Hold to Buy at Williams Capital today. The stock closed yesterday at $73.78 on volume of 875,000 shares, above average daily volume of 755,000.

Pinnacle West Capital share prices have moved between a 52-week high of $82.78 and a 52-week low of $56.01 and closed yesterday at 32% above that low price at $73.78 per share. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.4%.

Pinnacle West Capital (NYSE:PNW) is currently priced 12.3% above its average consensus analyst price target of $64.69. The stock should discover initial support at its 50-day moving average (MA) of $72.47 and subsequent support at its 200-day MA of $65.77.

Pinnacle West Capital Corporation is a utility holding company. The Company, through its subsidiary, provides either retail or wholesale electric service to most of the State of Arizona. The Company, through a subsidiary, also is involved in real estate development activities in the western United States.

SmarTrend is monitoring the recent change of momentum in Pinnacle West Capital. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Pinnacle West Capital in search of a potential trend change.

Keywords: analyst upgrades/downgrades pinnacle west capital

Ticker(s): PNW