Morningstar has hiked its target priced on Nintendo (7974.JP) as it expects the Japanese videiogames maker's Switch console to replicate the success of its motion-controlled Wii.
The research provider now expects Nintendo to ship 110 million Switch consoles during its life-cycle, up from 80 million previously for three major reasons:
Nintendo has already rallied more than 80% year-to-date but as Barron's columnist Assif Shameen recently argued, the impetus from a strong holiday season could significantly increase earnings per share.
Shares in Switch closed 0.13% down on Monday at JPY44,770 a share.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
