Pinnacle West Capital Corp

PNW: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$71.00	Nlrz	Nbzkthhb

Pinnacle West: Despite Recent Developments, Regulatory Uncertainty Supports No-Moat Rating

Travis Miller

Jun 4, 2024

We are changing the Morningstar Economic Moat Rating for Pinnacle West to no-moat from narrow after considering the uncertain regulatory environment in Arizona. The change does not affect our $77 fair value estimate.

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