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Morningstar lifts Nintendo’s target price by 7.7%, expects 22 million Switch 2 consoles sold by end-March

Jovi Ho
Jovi Ho • 3 min read
Morningstar lifts Nintendo’s target price by 7.7%, expects 22 million Switch 2 consoles sold by end-March
Nintendo shares hit an all-time high of JPY14,795 in August, and the constituent of Japan’s benchmark index is up some 51% year to date. Photo: Bloomberg
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Tokyo-listed video game giant Nintendo is switching into higher gear, posting 91% higher revenue y-o-y for the three months ended Sept 30 following the release of its Switch 2 gaming console in June.

During the quarter, Nintendo shipped 4.5 million Switch 2 consoles and raised its shipment guidance for FY2026 ending March 31, 2026 to 19 million from 15 million.

This suggests 8.6 million shipments in Nintendo’s 2HFY2026 from Oct 1 to March 31, following 10.4 million in 1HFY2026.

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