Nebius Group received an upgrade to Outperform from BNP Paribas Exane on September 24, which raised its price target from $260 to $399, a 53% increase. Shares climbed roughly 9% intraday to between $246 and $249, extending their approximately 193% year-to-date advance. The AI cloud infrastructure company reported Q2 2026 revenue of $582 million, up 454% from a year earlier, including $575 million from its AI business, which rose 514%. Its annualized run-rate revenue reached about $3 billion by the end of June, while BNP Paribas analysts forecast annual recurring revenue of around $22 billion by the end of 2027. Nebius also plans price increases effective October 1 for GPU cloud services (computing powered by graphics processors), including 17% to 21% increases for Nvidia instances and about 25% for selected AMD EPYC CPU services. Formerly Yandex N.V., the company divested its Russian assets, rebranded as Nebius Group in August 2024 and resumed Nasdaq trading under NBIS in October 2024. Under CEO Arkady Volozh, it is focused on AI infrastructure in Europe, Israel and the US. The $399 target implies roughly 60% upside from current levels, while analysts say a stock split appears unlikely until the shares approach $500.