Nintendo Target Raised

Buoyed by optimism about Wii, Merrill Lynch has upgraded its target price for Nintendo, to the equivalent of $29. The company’s price is currently around $26.50.

While analysts remain gloomy about PS3, Nintendo is on a roll. The firm’s price has risen by over 100% in the last year. On Friday, Merrill upped its target share price to 27,000 yen ($29) from 23,000 yen ($24.50).