Nintendo’s stock has been on an upswing over the past year, since the Switch was released. The stock has almost tripled in a year, and according to Jeffreies analyst Atul Goyal, it’s still a great investment opportunity.
Goyal believes that Nintendo is the “cheapest game stock in the world” right now, and says that Nintendo’s stock can triple in two years, driven by the Switch and new mobile games from Nintendo.
“We are as excited for Nintendo’s future as we were for Sony’s future back in 2014 when we found that Mr. Yoshida had taken over as CFO for Sony,” Goyal said.
Two years ago, Nintendo stock was trading at $15. Now it’s trading at $52. According to Goyal’s estimate, this could tripe to $150 by 2020.
