This article first appeared on GuruFocus.

Nebius Group (NASDAQ:NBIS) shares climbed about 8% Thursday after BNP Paribas Exane raised its view on the AI infrastructure provider and lifted its price target to $399 from $260.

The brokerage moved its rating to Outperform from Neutral. The change comes as Nebius prepares another round of pricing changes for its AI cloud services.

Starting Oct. 1, prices for selected Nvidia GPU instances are set to increase by roughly 17% to 21%. Rates for some AMD EPYC Genoa CPU services are also expected to rise about 25%, following another price increase earlier this year.

The pricing moves come amid continued demand for computing capacity used to train…