Key Highlights

● PNW closed at $98.81 on 9 October 2026.

● Market data consensus target is $101.64, implying about 2.9 per cent upside.

● Targets range from $89.00 to $109.00.

● Citigroup reiterated its rating on 8 October.

Pinnacle West Capital (NYSE:PNW), a member of the S&P 500, ended Friday 9 October 2026 at $98.81. The consensus target sits close to the share price, and ratings lean neutral. Recent broker revisions have mostly been downward.

What Is the Latest Analyst Price Target?

Market data shows a consensus price target of $101.64 from 15 analysts over the past 12 months, with a high of $109.00 and a low of $89.00. Against the $98.81 close, the consensus target suggests upside of about 2.9 per cent.

The second data set, citing third-party data from 17 analysts, shows a slightly higher mean of $102.93, a median of $104.00, a high of $118.00 and a low of $89.00. The average of the six named dated targets on market data is about $100, a little below both data sets' figures.

What Are Wall Street Analysts Saying?

Market data records four Buy, eleven Hold and no Sell ratings, a consensus of "Hold". The second data set also shows a "Hold" consensus.

Recent named actions on market data show a clear downward pattern. Citigroup reiterated a Neutral rating on 8 October. Truist Financial lowered its target from $101 to $99 and Jefferies from $129 to $109 on 5 October, with Jefferies keeping a Buy rating. Barclays cut its target from $108 to $94 on 1 October with an Equal Weight rating. Scotiabank initiated coverage on 29 September with a Sector Outperform rating and a $104 target. Morgan Stanley lowered its target from $94 to $89 on 18 September, and BMO Capital Markets cut its target from $106 to $104 on 22 July.

What Could Help the Stock Reach the Price Target?

The consensus target is within about 3 per cent of the share price, so a modest move would close the gap. Jefferies, which still rates the stock Buy, has the highest recent named target at $109, and Scotiabank's Sector Outperform rating shows at least one broker has begun coverage with a positive view.

The absence of Sell ratings suggests the Street does not see the shares as clearly overvalued.

What Could Prevent the Stock Reaching the Target?

The direction of revisions is the main concern. Jefferies cut its target by $20, and Barclays by $14, within the past fortnight. If further cuts follow, the consensus may drift lower, possibly toward the share price. Eleven of fifteen analysts rate the shares Hold, indicating limited conviction on either side.

Utilities can be sensitive to interest rates, regulatory outcomes and capital spending needs, and any adverse development in those areas could lead analysts to reduce targets further.

How Analysts See Pinnacle West Capital After the Latest Close

Pinnacle West Capital closed at $98.81 on 9 October 2026, against a market data consensus target of $101.64. Citigroup reiterated a Neutral rating on 8 October.