Konami Shares Gain After Deutsche Bank Raises Investment Rating
Konami Corp. (9766), the video-game maker behind the “ Winning Eleven” soccer title and “Metal Gear Solid,” rose the most in more than a month in Tokyo trading after Deutsche Bank AG recommended investors buy the stock.
Konami gained as much as 4.3 percent, the biggest intraday gain since April 18, and traded at 1,654 yen as of 10:28 a.m. on the Tokyo Stock Exchange. The benchmark Topix index rose 1 percent.
“I estimate Konami’s social game segment will expand to 20 billion yen ($244 million) this fiscal year from 5 billion yen of fiscal 2010,” Satoru Kikuchi, analyst at Deutsche Bank, said by phone. “Also, Konami’s new sport game software is likely to see stable sales in summer.”
Kikuchi raised his rating on Konami to “buy” from “hold” yesterday after the market close, and increased the share-price estimate to 2,000 yen from 1,800 yen.
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