Nintendo's Switch Seen as Tailwind for GameStop (GME) - Baird
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Baird analyst Colin Sebastian sees Nintendo's next-generation hardware platform, Switch, as positive for GameStop (NYSE: GME).
Sebastian commented, "The home/portable hybrid device is geared toward a more casual gaming audience, much like the immensely popular Nintendo Wii (>100M units shipped globally). Trailer footage suggests that Switch will utilize physical cartridges for its games, a potential positive for retailers such as GameStop, as it could mitigate the impact of market share erosion from digital sales."
The firm maintained an Outperform rating and price target of $40 on GME.
Shares of GameStop closed at $25.00 yesterday.
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