Market Overview

Deutsche Bank Times Nintendo Upgrade...Perfectly

Deutsche Bank Times Nintendo Upgrade...Perfectly
Related NTDOY
This Day In Market History: Capital Cities Buys ABC
Morgan Stanley Sees Ethereum's Strength Benefiting AMD, Nvidia

Wall Street’s reputation for bending the rules always leads to raised eyebrows in the trading community when a firm times a call on a stock a little too well.

Apparently, Deutsche Bank had one of these spectacularly well-timed calls on Nintendo Co. Ltd. (ADR) (OTC: NTDOY) on Wednesday when it upgraded the stock from Hold to Buy. Hours later, the stock spiked 28 percent when the company announced it's bringing several new games to Apple Inc. (NASDAQ: AAPL)’s mobile platforms in coming months, including “Super Mario Run."

Related Link: How Pikachu And Super Mario Doubled Nintendo's Stock

Nintendo stole the show from Apple at its own iPhone 7 media event as investors cheered the news buy piling into Nintendo stock.

Analyst Han Joon Kim gave his own reasons why he believes Nintendo’s 2Q17 earnings have room for upside:

  • 1. He expected news on the company’s new NX console by the end of the year.
  • 2. He anticipated a November release of smartphone games “Animal Crossing” and “Fire Emblem.”
  • 3. He expected positive earnings contributions from Pokemon GO, existing 3DS hardware and Nintendo’s sale of its Seattle Mariners stake.

Deutsche Bank’s upgrade certainly looks like a genius move following the Apple news. Prior to the Apple event, there had been no other analyst action on Nintendo’s stock since July.

Shares of Nintendo's ADRs traded recently at $34.11, down 6 percent.

Latest Ratings for NTDOY

Oct 2016NomuraUpgradesNeutralBuy
Sep 2016Deutsche BankUpgradesHoldBuy
Jan 2015Bank of AmericaInitiates Coverage onUnderperform

View More Analyst Ratings for NTDOY
View the Latest Analyst Ratings

Posted-In: Deutsche Bank Han Joon Kim Super Mario RUnAnalyst Color Upgrades Analyst Ratings Movers Tech Best of Benzinga


Related Articles (AAPL + NTDOY)

View Comments and Join the Discussion!