The Nintendo Switch has been a big success so far, selling some 2.4 million units during its first month on the market. And stock traders are loving the success of the Switch and the prospect of a popular Nintendo hone console.
Which is why Nintendo shares have risen 20% since the Switch launched. Right now shares are hovering at around $30, and if Jefferies equity analyst Atul Goyal is to be believed, shares will hit $43 this year.
In a paper sent to potential investors, Goyal believes that the Switch’s success will attract more third party publishers in the future, and said that he believes Nintendo has a solid first party lineup for games for the Switch this year.
A year ago, Nintendo shares were barely at $17, but thanks to the release of Pokemon GO, and now the Switch, it looks like there are good times ahead for Nintendo shareholders.
Do you own Nintendo shares or would you consider buying some? Share your thought in the comments section!