Nebius: Strong Buy As Palantir Unlocks A New Growth Engine

Nebius Group (NBIS) remains a strong buy, driven by a transformative partnership with Palantir (PLTR) that expands enterprise reach and diversifies customer acquisition. The Palantir agreement could significantly boost NBIS's compute demand, reduce customer acquisition costs, and facilitate modular data-center deployments with potential for prepayments. Valuation scenarios for NBIS imply 25% to 74% upside, with a base case price target of $375.88 and high target of $402.50, despite substantial CapEx and funding needs.