Northland initiated coverage of Nebius Group (NBIS) with an Outperform rating and $34 price target With current capacity plans out to calendar year 2025, the firm estimates that Nebius will achieve 1% AI-as-a-Service market share in 2025 and will be “well positioned” to achieve the firm’s 1.25% terminal period market share estimate. In addition, the firm views Nebius as well positioned to deliver a 21% free cash flow margin, the analyst added.
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