Nebius (NBIS) stock ended in the green on July 20 and continued its rise on July 21 after a senior Freedom Capital analyst said it’s poised for further gains in the second half of 2026.
In his latest research report, Paul Meeks upgraded the artificial intelligence (AI) cloud provider to “Buy” and raised his price target to $200, indicating potential upside of about 10% from here.
Meeks’ bullish call arrives at a time when Nebius shares have fallen out of favor with investors due to valuation concerns, currently down nearly 40% versus their June high.
Why Is Freedom Capital Bullish on Nebius Stock?
NBIS stock has tumbled from a high of nearly $300 to about $182, a pullback that Meeks believes has improved the company’s risk-reward profile.
“Enough risk has squeezed out of this name,” which is now trading at about 5x its projected 2028 EV-to-EBITDA, in line with neocloud peers like CoreWeave (CRWV) and Iren Limited (IREN).
Crucially, the firm’s long-term growth trajectory and its role in the global AI infrastructure buildout remain largely intact, he told clients.
Note that Barchart also currently has a “40% BUY” opinion on Nebius Group, reinforcing that the technical momentum remains in favor of continued gains ahead.
Financials Warrant Buying NBIS Shares
Freedom Capital expects Nebius’s full-year revenue to more than triple this year, while its estimate for adjusted EBITDA sits at an even higher 336%.
The Nasdaq-listed firm currently boasts over $40 billion in contracted revenue backlog from high-profile clients like Microsoft (MSFT) and Meta Platforms (META), alongside a recent $1 billion-plus compute agreement with Reflection AI.
To satisfy soaring demand, Nebius recently secured a $775 million senior debt facility and plans to add 310 megawatts of data center capacity in Lappeenranta, Finland.
Combined with a newly launched asset-light infrastructure partnership model, Freedom Capital expects Nebius shares to capture significant market share across the artificial intelligence cloud ecosystem.
How Wall Street Recommends Playing Nebius
Note that other Wall Street analysts are even more bullish on NBIS shares for the next 12 months.
The consensus rating on Nebius Group sits at “Moderate Buy,” with the mean price target of roughly $238 indicating potential upside of another 30% from here.
