NTDOY - Nintendo gains 2% as Jefferies upgrades to Buy on 'Mario Kart' monetization

Nintendo (OTCPK:NTDOY) has moved up to a session high, up 2% after Jefferies issues an upgrade of the stock to Buy. That comes in reaction to the videogame maker's presentation of its upcoming pipeline - and in particular a refresh of content for its stable game Mario Kart. The company is refreshing 48 tracks for Mario Kart 8 Deluxe, a move that "suddenly" makes a $50/year Online Expansion Pack a "compelling option," analyst Atul Goyal and team write. Nintendo's event showcased 26 games, including the Mario Kart 8 Deluxe Booster Course Pass, but drew some concerns from investors after the presentation lacked mention of a Legend of Zelda follow-up, or Mario Kart 9. It was the positioning of the Nintendo Switch Online Expansion Pack sub for Mario Kart players that impressed Jefferies, though. The pack has sold 43 million subs so far, and now Nintendo is adding the 48 new

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Nintendo gains 2% as Jefferies upgrades to Buy on 'Mario Kart' monetization