Baird initiated coverage on Nebius Group (NASDAQ: NBIS) with an Outperform rating. The investment firm set a price target of $250.00 for the stock. This target represents a potential 15% upside from the price of $216.92 at the time of the announcement.
Baird attributes its bullish stance to Nebius's positioning as a full-stack provider. The firm expects the company to benefit as AI workloads transition from training to inference.
Nebius shares have surged 325% over the past year amid high investor enthusiasm for AI sectors. On July 17, the company secured a $775 million debt facility. These funds will accelerate the expansion of its AI cloud platform.