Core Viewpoint - Market interest in Nintendo stock surged following coverage initiation by JPMorgan Chase, resulting in a stock price increase of over 3% on Friday, outperforming the S&P 500 index's decline of nearly 0.3% [1] Group 1: Analyst Coverage - JPMorgan Chase initiated coverage of Nintendo's Japan-listed stock with an overweight recommendation, setting a price target of 11,600 yen ($74.21) per share, indicating a potential upside of 17% from the current stock level [2] Group 2: Product Launch and Market Expectations - The bullish outlook from the analyst coincides with the recent unveiling of Nintendo's Switch 2 hybrid video game system, which is expected to outperform the original Switch, released in early 2017 [3] - The original Switch has sold over 146 million units, establishing it as a significant success, and expectations are high for the Switch 2 to replicate or exceed this performance [4] - The importance of the Switch 2 to Nintendo's future is emphasized, suggesting that the company is unlikely to fail with this product launch [4]
Why Nintendo Stock Flew Higher on Friday