0321 GMT - Nintendo bull Jefferies is heartened that the Japanese videogame maker is finally using its "fort-like balance sheet" to conduct a 100 billion yen buyback to offset cross-shareholding sales. While small, it is a good start, analyst Atul Goyal writes in a note. This signals the company's shift to a confident, albeit measured, capital strategy, he says. Nintendo using its currently depressed stock price to make bigger buybacks and cancel those shares also makes sense to Jefferies. The U.S. bank reiterates its buy rating with a target price of Y21,260, as it reckons the stock is close to a bottom. Shares are last at Y8,659. (farah.elias@wsj.com)
(END) Dow Jones Newswires
March 03, 2026 22:21 ET (03:21 GMT)
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