Pursuits
Pokemon Go Craze Befuddles Analysts at Big Investment Banks
- Nintendo analysts have scrambled to keep up with share moves
- Company hasn’t disclosed financial interest in Pokemon Go
Investors Go as Nintendo Captures Few Pokemon Profits
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Pokemon Go’s stunning surge in popularity is leaving few more befuddled than the analysts who cover Nintendo Co. for the world’s biggest investment banks.
Take Bank of America Corp.’s Hiroyasu Eguchi. He cut his rating on the stock in April and lowered his price target on July 6 -- one day before Pokemon Go debuted in the U.S and shares began a tear that more than doubled their price over two weeks. Eguchi reversed course this week: On Monday, he upgraded the stock to a buy rating and set a price target that’s almost double the current level.