Wedbush downgrades Nintendo to Neutral as best-case scenario priced in

As previously reported, Wedbush downgraded Nintendo (NTDOY) to Neutral from Outperform as shares have reached its price target of 14,000 yen, which the firm believes fully prices in the best-case scenario of hardware and software unit sales over the next several quarters. Uncertainty remains as Nintendo faces uncertain consumer dynamics over the holiday period, with tariffs driving a much higher console price point, fluctuating foreign currency translation dynamics, and a changing supply and demand landscape, Wedbush argues. With Vietnamese goods facing a 20% tariff, the firm expects Nintendo to raise prices across its accessories and some games to pass through tariff-related costs to U.S. consumers.