Nintendo’s stock skyrocketed last year with the news that they had teamed up with DeNA to create and release mobile games and apps, but some of the momentum was lost at the end of the year when their first mobile app, Miitomo, was delayed until March. Nintendo President Tatsumi Kimishima recently confirmed that Miitomo is still on pace for a March release, and he also revealed that Nintendo is making progress on expanding into theme parks as well as movies and anime. Additionally, Nintendo plans to reveal details about their upcoming NX console soon.
With all of these ventures in the works, analysts and investors are regaining some faith in the company, and as a result, Nintendo’s stock jumped over 9% in Japan today. According to analyst Serkan Toto, this stock spike is likely related to Merrill Lynch upgrading the company’s stock status from “neutral” to “buy.”
Source: Yahoo Finance
Nintendo stock pops 9% today after Merrill Lynch Japan's upgrade from "neutral" to "buy"+ raising the target price by 5,000 to 25,000 yen.
— Dr. Serkan Toto (@serkantoto) January 19, 2016