Phil Elliott
11:00 (BST)
25/01/2008
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Analysts raise guidance for Nintendo
More growth expected, higher sales targets set for Japanese firm
Following yesterday's news that Nintendo's profits almost doubled on the success of its Wii console, analysts have reacted positively and announced an expectation of continued growth.
According to a report on Bloomberg, Tokyo-based HSBC Holdings analyst Carlos Dimas commented: "Nintendo performed above our expectations. Given its superior earnings power we expect healthy growth to continue."
And JPMorgan analyst Eiji Maeda raised his price estimate for the beginning April 1 from JPY 75,000 to JPY 80,000.
The company raised its full year sales forecast to JPY 1.63 trillion (USD 15.29 billion) but left profit forecasts the same, at JPT 275 billion, due to the strengthening yen and the company's bulk of sales coming outside of Japan.
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