Analyst Atul Goyal of Jefferies maintained a Buy rating on Nintendo Co, boosting the price target to Yen20,840.00.
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Atul Goyal has given his Buy rating due to a combination of factors including the strong performance of Nintendo’s latest hardware and software offerings, which have surpassed initial expectations. The successful launch of Nintendo Switch 2, with its impressive sales figures and favorable tie-ratios, indicates a positive trajectory for the company.
Furthermore, the strategic bundling of popular titles like Mario Kart has maintained consumer interest, despite a temporary dip in average selling prices. Goyal also notes the favorable long-term industry dynamics that position Nintendo as a key player alongside Sony, barring any significant missteps by the latter. These elements contribute to an optimistic outlook, prompting a slight increase in the price target and the maintenance of a Buy rating.