B. Riley analyst Craig Ellis raised the firm’s price target on D-Wave Quantum (QBTS) to $20 from $13 and keeps a Buy rating on the shares. The firm believes Nvidia (NVDA) CEO Jensen Huang’s views that a quantum computing inflection is approaching with potential for Moore’s Law-type advancements “is a further positive stance evolution.” The comments are a “sentiment plus” for quantum companies and D-Wave is the commercialization leader, the analyst tells investors in a research note. Riley cites fundamental drivers for upping targets in the semiconductor capital equipment space.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on QBTS:
- D-Wave Quantum price target raised to $20 from $14 at Benchmark
- Benchmark Predicts 29% Upside for D-Wave Quantum Following Major South Korea Partnership
- D-Wave Quantum Stock Scores a New Street-Hight Price Target
- With D-Wave Quantum Stock (QBTS) Up 1,244%, Let’s Look at Who Owns It
- D-Wave Quantum’s Strategic Advancements and Revenue Growth Potential Justify Buy Rating
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue