Jefferies Upgrades Nintendo (NTDOY) to Buy

Jefferies upgraded Nintendo (OTC: NTDOY) from Hold to Buy.

Analyst Atul Goyal commented, "Finally, Nintendo has turned a corner and embraced a huge strategic shift, opening up its game-IP for smart-devices. We have long argued that it needs to change. Today, it entered into a business and capital alliance with DeNA. We believe Mario / Zelda / Pokemon / Donkey Kong on smartphones / tablets will expand its market and profit pool dramatically (see scenario analysis inside). Upgrade to Buy. New PT ¥30,000 (FROM ¥12,400)."

For an analyst ratings summary and ratings history on Nintendo click here. For more ratings news on Nintendo click here.

Shares of Nintendo closed at $18.22 yesterday.

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