Nebius shares were up 9.5% at 1:53 p.m. ET after BNP Paribas analyst Stefan Slowinski upgraded the company from neutral to a buy-equivalent rating and raised his target from $260 to $399, implying 76% upside from the prior close. Shares had nearly tripled in 2026.
Slowinski raised the target before Nebius shares reached his previous $260 target. Last week, the company said demand for computing capacity to train and run AI models was growing and announced its second price increase in recent months. From Oct. 1, customers leasing some Nvidia chips will pay about 20% more; prices for other processing units and memory products will rise even more.
