Nintendo Co Ltd. (NTDOY)Nintendo stock downgraded on fears of slowing system demand
Joystiq.com - March 20, 2008
Submitted by vGInfidel (150)
at 6:39PM PST on March 20, 2008
KBC Securities Japan recently downgraded Nintendo's stock from a "buy" to a "hold" recommendation because of worries that Wii and DS sales will slow after "explosive growth" in the last year. The KBC report also includes a 30 percent cut in its 12-month price estimate for Nintendo stock and is based on worries that the company will see its revenues continue to suffer as a result of the weakening American dollar. KBC's outlook stands in stark contrast to Nintendo's own bullish profit estimates.