Nintendo Stock (NTDOF) Jumps on Switch 2 Launch

Nintendo (NTDOF) stock got a boost on Thursday after the video game company launched the Switch 2. Sales of the Switch 2 started at midnight, with gamers around the world lining up to purchase the latest handheld/home console hybrid. While it will be some time before sales data is available, strong preorder demand and consumer hype suggest Nintendo already has a win on its hands.

The launch of the Switch 2 comes alongside the release of Mario Kart World, with an option to purchase the game bundled with the console. Several other new games were also released at the same time as the Switch 2, and various original Switch games received updates to increase performance and add features on the new console.

Nintendo has high hopes for the Switch 2, as it expects the console to sell 15 million units in its first year. The video game developer has also confirmed plans to ramp up production of the device up to 20 million units in year one to meet increased demand.

Nintendo Stock Movement Today

Nintendo stock only saw a slight boost today, with shares up 0.23% this morning. This shows that much of the hype around the Switch 2 is already baked into the price of NTDOF shares, which are up 41.68% year-to-date and 46.07% over the past 12 months. If Switch 2 sales surpass estimates, they could be a further boon to Nintendo shares.

Is Nintendo Stock a Buy, Sell, or Hold?

Turning to Wall Street, the analysts’ consensus rating for Nintendo is Moderate Buy, based on eight Buy, two Hold, and one Sell rating over the last three months. With that comes an average NTDOF stock price target of $90.39, representing a potential 9.56% upside for the shares.

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