Deutsche Bank analyst Satoru Kikuchi has claimed that Nintendo stock has peaked and now faces a downward trend.
Assigning a sell rating to the company’s shares, Kikuchi said he expected the gaming giant to report “profits this month in excess of guidance” and predicts a decline of 18 percent the next year and 19 percent in 2011 due to slowing sales.
Kikuchi said that profits will “peak and decline after growing on the success of the Wii and the DS,” and earnings could “return to past levels if the company fails to come up with new blockbuster platforms”.
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