Analyst Robin Zhu of Bernstein maintained a Buy rating on Nintendo Co, with a price target of Yen15,000.00.
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Robin Zhu has given his Buy rating due to a combination of factors including Nintendo’s strong financial performance and promising future prospects. The company exceeded revenue and operating profit estimates in the first quarter, driven by the successful launch of the Switch 2 console, which saw higher-than-expected hardware sales.
Additionally, the high demand for Switch 2, coupled with the potential for upcoming first-party game releases, suggests a positive outlook for Nintendo. The analyst believes that the Switch 2 cycle will be transformative for the company, with expectations of significant operating profit growth. These factors contribute to the optimistic rating, with a price target set at JPY15,000.
In another report released on August 1, TD Cowen also reiterated a Buy rating on the stock with a Yen13,900.00 price target.