Nebius Group (NBIS) PT Raised to $250 at DA Davidson

DA Davidson analyst Gil Luria raised the price target on Nebius Group (NASDAQ: NBIS) to $250.00 (from $175.00) while maintaining a Neutral rating.

The analyst commented: "We believe the approval of the Vineland data center removes a significant risk from NBIS. Instead of worrying about meeting numbers for this year and becoming the poster child for data center delays, Nebius gets to go back to construction on the site as the push back on data center delays becomes a broader issue for the data center buildout. With this large risk removed, we are raising our price target back to $250 from $175 to reflect a premium to comparable CRWV. We maintain our NEUTRAL rating given the move in shares ahead of the hearing."

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