Fubotv earnings beat by $0.10, revenue topped estimates
Investing.com - Citi has raised its price target on Nintendo Co Ltd. (TYO:7974:JP) (OTC:NTDOY) to JPY15,000.00 from JPY13,200.00 while maintaining a Buy rating on the stock.
The adjustment comes after the United States agreed to lower-than-promised tariffs on many Vietnamese exports, prompting Citi analyst Tokiya Baba to revise tariff impact assumptions that had been higher than both Nintendo’s and market expectations.
Citi now expects Nintendo to face a reduced tariff impact of ¥58.9 billion at the gross profit level for fiscal year ending March 2026, down from its previous estimate of ¥105.1 billion.
For fiscal year 2027, the projected tariff hit has been revised to ¥97 billion, significantly lower than the earlier forecast of ¥174 billion, leading Citi to raise its profit forecasts for the Japanese gaming company.
Citi reaffirmed its Buy rating on Nintendo, citing "multiple longer-term growth drivers, including the steady spread of the Switch 2 (NS2)" as factors supporting its positive outlook on the stock.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.