Nintendo shares up again
Nintendo's share price was up over five and a half per cent at the close of the Tokyo Stock Exchange on Friday, moving JPY 2900 (EUR 18.2) to JPY 55,400 (EUR 347), after a slight tumble caused by the strengthening yen.
Nintendo's share price was up over five and a half per cent at the close of the Tokyo Stock Exchange on Friday, moving JPY 2900 (EUR 18.2) to JPY 55,400 (EUR 347), after a slight tumble caused by the strengthening yen.
The rise was above average for the Nikkei 225 Stock Average, which rose just over one per cent.
This follows a move three weeks ago by CLSA Asia-Pacific Markets to raise the company's stock target price by 25 per cent due to the company over performing with Wii and DS sales.
According to a report on Bloomberg, CLSA analyst Atul Goyal still considers the company to be an excellent prospect: "It is simply the best possible investment. [Nintendo] continues to sell far more than our super-bullish forecasts."
Nintendo's share price doubled last year, and Goyal now predicts the 12-month target price to hit JPY 100,000 (EUR 627), sales of the DS to surpass the 30 million mark, and sales of the Wii to hit 20 million - significant amounts more than Nintendo's own predictions.
A recent report from the Financial Times placed Nintendo's home console at the top of the hardware sales tree, despite Microsoft having had a one year advantage in the market place with the Xbox 360.