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Deutsche Bank Says Nintendo's Pokémon Go-Inspired Surge Has Run Its Course

More evidence needed to justify this rally.

According to financial markets, Nintendo Co. Ltd. might be more of a mobile gaming company than a seller of gaming consoles. And that's a sign the Pokémon Go-fueled rally in the stock might have gone too far, according to Deutsche Bank AG.

Since the launch of its viral, battery-draining hit augmented reality game in the U.S. earlier this month, shares of Nintendo have gone parabolic.