Benchmark analyst David Williams raised the firm’s price target on D-Wave Quantum (QBTS) to $35 from $20 and keeps a Buy rating on the shares following what the firm calls “another quarter of strong progress with continued momentum on the path to broad commercialization and sustainable profitability.” Despite the momentum reversal across the emerging technology landscape, specifically in quantum, the firm remains confident in D-Wave’s unique architecture and ongoing technology progress and encourages investors to be “opportunistic in gaining exposure.”
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