PNW Price Prediction Next Week
Technical Analysis: PNW is currently trading at $83.35, showing a bearish trend in the short term. The RSI reading of 61.16 indicates the stock is approaching overbought territory but not yet at extreme levels. The MACD at 0.57 suggests positive momentum.
Support and Resistance Levels: Based on Fibonacci analysis:
- Strong resistance: $89.80 (R2)
- Immediate resistance: $88.81 (R1)
- Current pivot: $87.21
- Immediate support: $85.61 (S1)
- Strong support: $84.62 (S2)
Fundamental Analysis: According to recent data, PNW is expected to report Q4 earnings with a projected loss of $0.15 per share. However, analysts are optimistic about fiscal 2024, predicting an EPS increase to $5.13, up 16.3% from $4.41 in fiscal 2023.
Price Target and Analyst Consensus: The consensus among analysts suggests a "Moderate Buy" rating with an average price target of $93.78, indicating an 8.2% potential upside from current levels.
News Impact: Recent oversold conditions and the extremely hot summer of 2024 have positively impacted energy consumption, benefiting PNW's performance. The stock has gained 24% over the past year, slightly underperforming the S&P 500's 26.5% gains.
Price Prediction for Next Week: Based on technical indicators and fundamental factors:
- Target Price: $86.50-$87.50
- Recommendation: BUY
Rationale:
- The stock is showing positive momentum with MACD at 0.57
- Strong support levels around $84-$85 range
- Upcoming earnings catalyst
- Positive analyst sentiment with upside potential
- The stock is trading above key moving averages (SMA 20: $86.68, SMA 60: $87.80)
The stock is likely to test the pivot level at $87.21 next week, with strong support protecting downside risk.
PNW Similar Chart Price Prediction
The price of PNW is predicted to go up 6.52%, based on the high correlation periods with NATH. The similarity of these two price pattern on the periods is 94.37%.
PNW
NATH
Up: 6.52%Similarity: 94.37%
PNW Revenue Forecast
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PNW VS S&P500
Pinnacle West should benefit from investing in the infrastructure that will be needed to support renewable energy targets in Arizona and surrounding states.
Arizona's population growth has historically been higher than the US average, driving usage growth and investments in generation, transmission, and distribution.
Even in a contentious regulatory environment, we think Pinnacle West can still earn near 9% returns on equity, in line with most peer US utilities.
PNW Analyst's Forecast
Ryan Levine
Citigroup
Hold
2024-12-04
Price Target
$85 → $95
Upside
+3.16%
Citi analyst Ryan Levine raised the firm's price target on Pinnacle West to $95 from $85 and keeps a Neutral rating on the shares. The Arizona Corporation Commission voted 3-2 to make Chairman O'Connor and Commissioner Myers' policy statement official after more than two hours of deliberation, the analyst tells investors in a research note. The firm says the policy statement provides high-level guidelines for utilities to file for formula rates in their next rate case. While it is not clear if this positive data point will ultimately prove constructive in the coming years, it further improves the outlook for Pinnacle West as it de-risks the company's timeline to file its next rate case by mid-2025, contends Citi.
Sophie Karp
Keybanc
Hold → Buy
2024-12-04
Price Target
$101
Upside
+9.68%
Nicholas Campanella
Barclays
Buy → Hold
2024-11-18
Price Target
$93 → $91
Downside
-0.63%
