The worldwide success of Pokémon Go is finally making a believer out of Nintendo Co.’s most bearish analyst.
SMBC Nikko Securities Inc.’s Eiji Maeda had an underperform rating on the company’s stock and the lowest price target among 15 Nintendo analysts tracked by Bloomberg. But in a report published Thursday, he says the worst is over for the Kyoto-based company, after shares tumbled this week by the most in 27 years. Maeda upgraded his outlook to neutral and raised his price target, citing the prospects for higher profits from Pokémon Go and upcoming titles.
