Nintendo (NTDOF) stock was on the move Tuesday after the video game company received updated coverage from analysts. Five-star Jefferies analyst Atul Goyal kicked off today’s Nintendo stock coverage with a reiterated Buy rating for the company’s shares. The analyst also increased his price target for NTDOF stock to $140.17 from $139.77, suggesting a possible 61.84% upside for the shares.
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Goyal reaffirmed his bullish stance on Nintendo stock and increased his price target for the shares due to a couple of factors. The analyst highlighted the strong performance of the Switch 2, the company’s newest video game console that launched earlier this year, and high sales of its software titles. He pointed out that these have surpassed expectations and come alongside other optimistic signals for the company. These reasons act as the backbone for his continued positive coverage of NTDOF stock.
On the flip side of that, UBS analyst Yijia Zhai doesn’t see as rosy a future for Nintendo stock as Goyal does. This analyst reiterated a Sell rating for NTDOF shares but increased his price target to $61.54 from $54.41. Despite the increase, this new price target still represents a potential downside of 28.94% for NTDOF stock.
Nintendo Stock Movement Today
Nintendo stock was up 2.29% on Tuesday, extending a 52.72% year-to-date rally. The video game hardware and software company’s shares have also gained 62.79% over the past 12 months. These gains are largely due to the anticipation and positive reception of the Switch 2.
Is Nintendo Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Nintendo is Moderate Buy, based on seven Buy, three Hold, and a single Sell rating over the past three months. With this comes an average NTDOF stock price target of $99.99, representing a potential 12.87% upside for the shares.
