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28 November 2023

Now may be good time for Nintendo play: report

President of Sony Computer Entertainment, Kazuo Hirai, introduces the company's next generation portable entertainment divice, codenamed 'NGP', at an event in Tokyo. Japanese entertainment giant Sony unveiled the portable touchscreen PlayStation as it looks to launch a fresh challenge to Nintendo and Apple in the competitive mobile gaming market. (AFP)

By Reuters

Nintendo's (7974.OS) ADRs are trading at less than half their peak, but now is a good time to pay attention to the company given its earnings growth expectations, Barron's wrote in its January 31 weekly publication.

Helped by its 3DS game, the company's earnings should climb 56 percent in the year ended March 2012 and another 26 percent the following year, Macquarie Securities analyst David Gibson told Barron's.

That makes the stock look like a steal, Barron's wrote, saying that Gibbons expects the Tokyo-traded shares to rise 26 percent to $350. The ADR represents 0.125 shares.