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Nintendo Switch 2 Outlook by Goldman Sachs Drives Shares
Nintendo Co. shares gained the most in over seven months after Goldman Sachs Group Inc. said it expects the upcoming release of its Switch 2 console to drive active users to new highs.
The US bank reinstated coverage of the Japanese games maker with a buy rating and a 12-month price target of JPY 13,600 (roughly Rs. 7,753), representing a 26 percent upside from Tuesday’s close. Nintendo jumped as much as 6.4 percent Wednesday morning in Tokyo.
The Switch 2, scheduled to be unveiled on April 2, should help Nintendo тАЬunlock dormant hardware and dormant users,тАЭ pushing active consoles to new highs, analysts Minami Munakata and Haruki Kubota wrote in a report.┬а
Nintendo’s long-awaited Switch 2 will come more than seven years after its original Switch console went on sale, and the firm’s stock has risen to all-time┬аhighs┬аon anticipation for its release.
The new console will likely feature similar gameplay to its predecessor, allowing family and friends to play together, Munakata and Kubota wrote. They also expect тАЬnumerous new software titlesтАЭ to accompany the Switch 2’s release, helping drive sales and leading to a тАЬrenewed growth phaseтАЭ for Nintendo’s earnings from next fiscal year. A slowdown in Switch sales has been┬аpressuring┬аrevenue in recent quarters.┬а
An Insider Gaming┬аreport┬аthat Nintendo may release new software for the Switch 2 in three phases is also likely boosting its shares Wednesday, said Bloomberg Intelligence analyst Nathan Naidu.┬а
A phased game roll-out тАЬcould help тАШstretch out’ orders for the gadget and avoid issues with scalpers that the Switch had,тАЭ Naidu wrote in a note.┬а
┬й┬а2025┬аBloomberg L.P.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
