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Fly News Breaks for February 24, 2020
PNW
Feb 24, 2020 | 08:48 EDT
Wells Fargo analyst Sarah Akers raised her price target to $110 from $94 as he believes management laid out a cohesive growth strategy driven by clean energy investments, service territory growth and a keen focus on cost management. The analyst was particularly encouraged by the step-up in capex and comments on the long runway for elevated spending. That said, various regulatory proceedings are looming in the background, which curb her enthusiasm near-term, she adds. Akers reiterates an Equal Weight rating on the shares.
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