D-Wave Quantum Inc. drew a fresh wave of bullish analyst coverage on 4 August. Stifel initiated the stock with a Buy rating and a $26 price target, calling the company a pioneer that could capture roughly 15% of a projected $10 billion quantum-computing market by 2030. Earlier in the day, Needham & Co. lifted its target to $20 from $13, while Benchmark’s David Williams reiterated his $20 goal after meeting with D-Wave’s chief executive and finance chief. The cluster of upbeat calls sent D-Wave shares up about 4% to 4.5% in Monday trading, adding to year-to-date gains driven by rising interest in quantum applications and forthcoming DARPA benchmarking programs. Needham also raised targets on sector peers IonQ and Rigetti Computing to $60 and $18, respectively, underscoring broader momentum across the industry.
Just in: Stifel initiates coverage on D-Wave Quantum $QBTS with a Buy rating and a $26 price target.
Just in: Stifel initiates coverage on D-Wave Quantum $QBTS with a Buy rating and a $26 price target. The firm highlights D-Wave as a pioneering company in quantum computing, projecting a 15% market share in a $10B industry by 2030.
$QBTS D-Wave Quantum Rated New Buy at Stifel; PT $26 https://t.co/dZYa5HGhxU