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- Wall Street's most bullish Nintendo analyst cuts his forecast for the video-game maker's stock price.
- Previously holding a target of 71,200 yen ($640.45), Jefferies analyst Atul Goyal reduced his target to 64,200 yen ($577.48).
- He cited lower expected sales for the Nintendo Switch console as the key driver.
- Watch Nintendo trade in real time here.
Nintendo's biggest bull on Wall Street, Jefferies' Atul Goyal, has slashed his price target for the company by more than 10%, citing lower expectations for the number of Switch consoles it will sell in 2018.
Writing on Friday, Goyal and his colleague Chengyao Zhang, said that while they remain bullish on the Japanese console maker, there are reasons to suspect that sales will be lower than previously thought. This, in turn, forced Goyal to cut his price target for the stock.
See the rest of the story at Business Insider
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from Business Insider https://ift.tt/2AezRZH
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