Freedom Capital upgraded AI cloud provider Nebius Group (NBIS) to a Buy rating from Hold. The firm raised its price target for NBIS to $200 from $159. This upgrade follows a significant decline in Nebius's stock. Shares have fallen over 40% from their recent peak. Shares rose over 4% in pre-market trading.
The investment firm believes the recent pullback created a more attractive entry point. It suggests enough risk has been "squeezed out" of the name. Freedom Capital maintains its long-term bullish view. The firm expects massive revenue growth between 2025 and 2028. The upgrade also follows Nebius's recent announcement. Nebius secured a $775 million debt facility to fund its global expansion.