JEFFERIES: Investors are loving Nintendo Switch's new games (NTDOY)

Shares of Nintendo are up5.4% this week after the companyrevealedan extended list of upcoming game releases for itsnew Switch console.The stock is up almost 20% since the Switch console was released on March 3.In a note sent out to clients on Wednesday, Jefferies equity analystAtul Goyal expressed his approval of the console'snew game schedule, and reiterated his"Buy" rating and 39,200 ($43)price target on the stock.Goyal says Nintendo has "a very strong First party game pipeline (Zelda, Mario Kart, Splatoon, ARMS, Super Mario)."He added, "It is also attracting some good third-party games (Minecraft, Sonic, Disgaea, Monopoly etc.)."Goyal says that the new game lineup mayincentivizeX-Box and PS4 users to change over to the Switch console, going forward this will become increasingly important to Nintendo's future success.So far, the Switch has been a huge success, surprising analysts across Wall Street.Nintendo Switch smashed the launch weekend sales record for a Nintendo console with330,637 units sold in Japan. Additionally, Nintendo had its biggest ever launch month with2.4 million consoles shipped, according to Goyal, citing independent market research firm SuperData.Going forward Goyalsays, "We believe that its IP treasure trove is unparalleled and this could be monetized in several ways."Nintendo is set to report earnings on April 27.Click here for a real-time Nintendo chart.(The over the counter shares that can be bought in US Dollars arerepresented by ticker symbol: NTDOY)Join the conversation about this storyNOW WATCH: Meet the MQ-25A Stingray ' the US's response to threats like China's 'carrier killers
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