In a report released today, Atul Goyal from Jefferies reiterated a Buy rating on Nintendo Co (NTDOF – Research Report), with a price target of Yen20,780.00.
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Atul Goyal has given his Buy rating due to a combination of factors including the impressive launch performance of Nintendo’s new console, the Switch 2. The console achieved record-breaking sales, moving over 3.5 million units globally within just four days of its release. This pace surpasses previous console launches, such as the original Switch and competitors like the PS4 and PS5.
This strong start has led to an upward revision of sales forecasts, with expectations now set at 69 million units over the next three years. Goyal anticipates a significant increase in operating profit, projecting more than fourfold growth within the same period. These positive indicators reinforce the Buy recommendation, with a price target of ¥20,780.
Goyal covers the Communication Services sector, focusing on stocks such as Nintendo Co, Capcom Co, and KONAMI HOLDINGS. According to TipRanks, Goyal has an average return of 14.9% and a 70.24% success rate on recommended stocks.
In another report released today, Citi also reiterated a Buy rating on the stock with a Yen13,200.00 price target.
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