Goldman Sachs Lowers 2Q11 EPS On Pinnacle West Capital To $0.88

According to Goldman Sachs, Pinnacle West Capital PNW 2Q11 EPS is lowered to $0.88 from $0.92. Goldman Sachs said that its 12-month P/E-based price target of $44 implies only 3% total return. “We see more upside to Buy-rated GXP and EE among small/mid cap peers.” Pinnacle West Capital closed on Friday at $44.78.