Nintendo shares on the Tokyo Stock Exchange, known as 7974, were up big today. The 2.7% gain was a mystery to me, but this explains it.
Nintendo shares jump to record high
The surge in stock price echoed Goldman Sachs' decision to cover Nintendo's stocks; the investment bank offered up a "buy" rating with a target share price of ¥71,000 ($609). In addition, and as if to brag, Nintendo raised its earnings expectations for the second time this business year to ¥370 billion, which amazingly is still well below analyst predictions of ¥415 billion.
The U.S. pink sheets convert that yen/dollar amount in Tokyo to $76.12. That's a significantly higher price than today's close for NTDOY.PK (below $69).
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