D-Wave Quantum price target lowered to $2 from $3 at Roth MKM

Roth MKM analyst Suji Desilva lowered the firm’s price target on D-Wave Quantum to $2 from $3 but keeps a Buy rating on the shares after its wider than expected Q2 loss. The company’s revenue and bookings remain steady as it focuses on key vertical opportunities and partnerships while also finding opportunities to leverage quantum annealing in conjunction with AI processes, the analyst tells investors in a research note. Roth MKM adds that its price target cut reflects adjustment for market valuation, though it also expects D-Wave Quantum to make steady financial progress over the next several quarters.