Citigroup raised its price target for Nebius Group N.V. to $287 from $169. The bank maintained its Buy rating following the company's May 13 earnings report.
Nebius reported first-quarter revenue of $399 million. This figure represents a 684% increase compared to the previous year.
Surging demand for AI cloud services and a contracted power capacity exceeding 4GW support the upgrade. Analyst Tyler Radke noted that the company’s current financial guidance appears conservative.
Radke suggested that the outlook leaves room for further positive adjustments. Nebius shares declined 2.8% in premarket trading despite the bullish analyst action.