NTDOY - Nintendo slips as Switch sales top Wii; CLSA downgrades over 'cycle-peak narrative'

Nintendo (OTCPK:NTDOY) shares slipped after the Japanese video game company posted results for the nine months ending December 31, 2021, and said its popular Switch console surpassed the Wii, but investment firm CLSA downgraded the stock on concerns over it reaching the top of its cycle. Analyst Jay Defibaugh downgraded the stock to sell from underperform, noting that the company has "enjoyed a range of positive share-price catalysts, but we expect the cycle-peak narrative to increasingly weigh on the stock." However, Defibaugh raised his price target to ¥53,000 from ¥52,000 on the stock, in conjunction with the downgrade. Nintendo (OTCPK:NTDOY) shares slipped on Thursday, falling slightly more than 0.5% to $62.30. For the nine months ending December, Nintendo sold 18.95 million Switch units, a decline of 21.4% year-over-year, as the chip shortage impacted sales of the console. Nonetheless, Nintendo has sold 103.54 million Switch units since the console was released in

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Nintendo slips as Switch sales top Wii; CLSA downgrades over 'cycle-peak narrative'