Canaccord lowered the firm’s price target on D-Wave Quantum (QBTS) to $41 from $43 and keeps a Buy rating on the shares. The firm updated its model following Q1 results where bookings surged as the gate model roadmap became tangible. Management raised system sales cadence from one per year to 2-3, with at least two deliveries committed in 2026 implying additional unannounced wins already deep in negotiation.
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