- Nintendo (OTCPK:NTDOY) ADRs are up 7.9% and at 10-year highs after the company's earnings report cleared expectations and featured a boost to its forecasts for the fiscal year.
- The company raised its OI guidance for the full year to ¥160B from ¥120B, and expects a dividend at ¥390 (up from ¥250). It also expects full-year net income of ¥120B, up from ¥85B, on net sales of ¥1.02T, up from ¥960B.
- The guidance tops analyst consensus.
- CLSA has given the stock a double upgrade, to Outperform from Sell, after its "blowout" quarter. A newly raised Switch forecast for 15M consoles looks conservative, analyst Jay Defibaugh says, and production improvements should dismiss worries about supply shortfalls.
- Along with the two-notch boost, he's raised his price target to ¥54,000 from ¥37,000, implying 12.6% upside from today's price (shares closed up 2% in Tokyo).
- Press release
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