Bank of America initiated coverage of Nebius (NBIS) with a Buy rating. Analysts established a $150 price target, representing a potential 31% upside from current trading levels.
The bank identifies Nebius as an emerging leader in the AI Infrastructure-as-a-Service (IaaS) market. This sector is projected to grow beyond $419 billion by 2028.
Nebius enables companies to train and deploy AI models without direct infrastructure investment. The company's existing customer base includes Microsoft and Meta.
Nebius shares climbed approximately 2% in premarket trading on Tuesday following the report.