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.
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