Nintendo Co, the Communication Services sector company, was revisited by a Wall Street analyst today. Analyst Atul Goyal from Jefferies maintained a Buy rating on the stock and has a Yen20,780.00 price target.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Atul Goyal has given his Buy rating due to a combination of factors including the anticipated impact of Nintendo’s upcoming ‘Direct’ event. This event is expected to focus on launch date confirmations, partnerships with third-party developers, software announcements, and updates on key titles, which could enhance Nintendo’s market appeal.
Additionally, the strong sales performance of the Switch 2 positions Nintendo favorably, allowing the company to strategically manage its release schedule. Goyal anticipates a significant increase in Nintendo’s operating profit over the next three years, with early indicators suggesting potential earnings beats, further supporting his positive outlook.
In another report released on September 2, J.P. Morgan also maintained a Buy rating on the stock with a Yen17,100.00 price target.