Rosenblatt raised the firm’s price target on D-Wave Quantum (QBTS) to $43 from $40 and keeps a Buy rating on the shares. The company executed a “one-two punch” with a $550M acquisition and technical breakthrough, the analyst tells investors in a research note. The firm believes D-Wave “significantly strengthened” its long-term position with demonstrating on-chip cryogenic control. The Quantum Circuits deal secures “superior” error correction capabilities, adds Rosenblatt.
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