In a report released today, Atul Goyal from Jefferies maintained a Buy rating on Nintendo Co (NTDOF – Research Report), with a price target of Yen15,440.00.
Atul Goyal has given his Buy rating due to a combination of factors including the anticipated launch of Nintendo’s Switch 2. The new console is expected to feature significant hardware improvements such as a larger LCD screen and a more powerful chip, which could drive substantial consumer interest and sales.
Goyal also anticipates that the launch will include some new game titles, which could further boost sales. He forecasts a fourfold increase in operating profit over the next three years, suggesting strong financial performance. Additionally, he advises medium to long-term investors to capitalize on any potential stock dips following the event announcement.
According to TipRanks, Goyal is a 5-star analyst with an average return of 11.2% and a 66.88% success rate. Goyal covers the Communication Services sector, focusing on stocks such as Nintendo Co, Capcom Co, and NEXON Co.
In another report released on March 25, Goldman Sachs also initiated coverage with a Buy rating on the stock with a Yen13,600.00 price target.