Analyst Atul Goyal of Jefferies maintained a Buy rating on Nintendo Co, retaining the price target of Yen20,780.00.
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Atul Goyal has given his Buy rating due to a combination of factors that highlight Nintendo Co’s promising future. The recent showcase on September 12 was particularly noteworthy, as it was one of the most content-rich presentations, featuring an impressive roadmap for the upcoming Switch 2. The event celebrated the 40th anniversary of Mario and included exciting announcements such as the Super Mario Galaxy movie, Metroid Prime 4, Fire Emblem, and Pokémon Pokopia.
Goyal notes that while there were some concerns about the high prices of downloadable content and Amiibos, the overall online reaction was very positive. He anticipates significant growth in engagement and monetization of intellectual property, projecting operating profit to increase by four to five times over the next three years. With the stock trading at 15 times the estimated fiscal year 2028 earnings, Goyal maintains a Buy rating, seeing substantial upside potential.
In another report released on September 2, J.P. Morgan also maintained a Buy rating on the stock with a Yen17,100.00 price target.