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.
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