BUYING NINTENDO STOCKS!!!
Do you think nintendo stocks will go up 80%???
In Nintendo's case, U.S. investors can purchase a Nintendo ADR traded over the counter (OTC) with the ticker symbol NTDOY. One NTDOY ADR represents one-eighth of a Nintendo share traded in Japan. Thus, a U.S. investor needs to acquire eight units of NTDOY to equal one ordinary share of Nintendo. There is another Nintendo ADR traded over the counter in the United States that uses the ticker symbol NTDOF. One NTDOF ADR equals one ordinary share of Nintendo traded in Japan.
Jefferies, one of the biggest Nintendo bulls on Wall Street, says shares of the Japanese game maker could soar 80% — even if Switch sales are flat.
"We like Nintendo as, we believe, it offers the best earnings growth at the cheapest valuations in the sector," Atul Goyal and his colleague Chengyao Zhang, analysts from Jefferies, said in a note sent out to clients on Monday.
Even with a conservative estimate for flat Switch sales, the duo says operating profits could triple in three years. "In 1Q, operating profits grew c. 90% year over year despite no major game launches and no hardware growth," they said. "We believe Switch hardware sales can grow c.10-12% year over year for the next 3-4 years."