Business Insider recently published a report from Jefferies analyst Atul Goyal. Goyal wrote in his report that Nintendo currently has the cheapest video game stock in the world, but he doesn’t expect that to last long. Here’s what he had to say on the matter:
“Nintendo is the “cheapest game stock in the world,” Jefferies analyst Atul Goyal wrote in a note. The company has a ¥6.43 trillion ($58.7 billion) market cap and is trading at ¥46,370 a share ($424.15).”
“We believe OP could more than triple in 2 years, driven by cyclical (Switch) and structural (digital adoption for console games; mobile game revenues) factors,” he wrote.
“We are as excited for Nintendo’s future as we were for Sony’s future back in 2014 when we found that Mr. Yoshida had taken over as CFO for Sony,” Goyal wrote.