Social engagement and expert reviews suggest a favorable demand trajectory for the Nintendo (NTDOY) Switch Lite, which debuted Friday, Jefferies analyst Jonathan Matuszewski tells investors in a research note. In addition, webscrapes show Best Buy (BBY) is likely to see an outsized share of gaming console sales versus other retailers, adds the analyst. He believes the Switch Lite could be a "nice demand driver" for Best Buy during key holiday selling weeks and an "important bridge" until more prominent launches in fiscal 2021. Matuszewski reiterates a Buy rating on Best Buy shares with an $80 price target.
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