Atul Goyal, an analyst from Jefferies, reiterated the Buy rating on Nintendo Co (NTDOF – Research Report). The associated price target was raised to Yen20,220.00.
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Atul Goyal has given his Buy rating due to a combination of factors that highlight Nintendo’s promising future. One of the main reasons is the anticipated earnings growth driven by the launch of the Switch 2, which is expected to perform strongly in the market. This new product launch is projected to significantly boost Nintendo’s market position, potentially making it the largest market-cap company in Japan within a few years.
Goyal has also adjusted the sales forecasts for the Switch 2 hardware upwards, reflecting a stronger-than-expected early performance and a clearer long-term outlook. Consequently, he has raised the price target for Nintendo’s stock, indicating confidence in the company’s ability to capitalize on its current momentum and sustain growth over the coming years.
In another report released on June 2, Nomura also maintained a Buy rating on the stock with a Yen14,800.00 price target.