The Hispanic vote isn't going to be enough to win AZ for the democrats. They will need to attract the conservative white vote and it will be tough, especially since AZ is known to be tougher on immigration.
AZ is also attracting a lot of aging whites, which isn't going to help the democrats' cause in my opinion and unlike CO, the youth vote isn't that high in that state (I believe).
Hispanic: Arizona (29.6%), Nevada, (26.5%), Colorado (20.7)
People age 65+: Arizona (13.8%), Nevada (12.0%), Colorado (10.9%)
People age below 18: Arizona (25.5%), Nevada (24.6), Colorado (24.4)