In a report released today, Tokiya Baba from Citi reiterated a Buy rating on Nintendo Co (NTDOF – Research Report), with a price target of Yen13,200.00.
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Tokiya Baba has given his Buy rating due to a combination of factors surrounding Nintendo Co’s recent performance and future potential. The launch of the Nintendo Switch 2 (NS2) has been notably successful, with initial sales reaching 3.5 million units in just four days. This figure significantly surpasses the original Switch’s first-month sales, indicating strong consumer demand and setting a positive tone for future sales projections.
Despite the initial share price reaction being muted, Baba sees the potential for upward revisions to Nintendo’s full-year sales guidance and market forecasts. The NS2’s successful launch, coupled with medium-term growth drivers, suggests that Nintendo’s earnings could exceed current expectations. This optimistic outlook underpins Baba’s Buy rating, as he anticipates continued positive momentum for the company.
In another report released on June 8, Jefferies also reiterated a Buy rating on the stock with a Yen20,220.00 price target.