Nebius price target raised to $125 from $75 at DA Davidson

Core Viewpoint - DA Davidson has raised the price target for Nebius (NBIS) to $125 from $75 while maintaining a Buy rating, driven by a significant contract with Microsoft worth $17.4 billion for GPU capacity for Azure [1]. Group 1 - The recent contract with Microsoft is a key factor in the valuation upside for Nebius, indicating strong growth potential in its core business [1]. - The Nebius Data Center Capacity model provides the underlying assumptions that support the optimistic outlook on the company's valuation [1].