Why Nintendo Stock Rocked the Market Today

Investors were happy to play with Nintendo (OTC: NTDOY) shares on the first trading day of the week. The storied Japanese video game company's stock saw a nearly 3% lift in price on the day, following an analyst's initiation of coverage with a resounding buy recommendation. That rise was on a generally down day for the market, as evidenced by the benchmark S&P 500 index's nearly 1% slide.The initiating party was TD Cowen prognosticator Doug Creutz, who inaugurated his Nintendo coverage with said buy recommendation and a price target of 10,600 yen ($71.25) per each of the company's Japan-listed shares. In his research note launching coverage, Creutz dug into the video game mainstay's history as a publicly traded company. Nintendo's latest video game console should be released in the next seven to 15 months, he wrote, and the months leading up to console releases have traditionally been an ideal time to buy its shares. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool