Nebius stock jumps after BNP Paribas upgrade to Outperform

Nebius Group NV shares rose 6.4% in morning trading Thursday, reaching $241.20, following an upgrade from BNP Paribas Exane. The firm raised its rating on the AI infrastructure company to Outperform from Neutral and increased its price target to $399 from $260.

The new price target suggests approximately 76% upside from the previous close of $226.61. The upgrade represents a change in the firm's position on the stock and adds another buy rating to the analyst consensus.

The rating change follows several company announcements earlier this month. Nebius informed customers of price increases across its on-demand GPU cloud services, set to take effect on October 1, 2026. The increases cover Nvidia H100, H200, B200, and B300 instances by approximately 17% to 21%, and AMD EPYC Genoa CPU rates by around 25%.

The price adjustments mark the second round of increases in recent months. Market participants have viewed the pricing changes as an indication of constrained AI compute capacity and sustained demand in the sector.

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