Benchmark analyst David Williams raised the firm’s price target on D-Wave Quantum (QBTS) to $20 from $14 and keeps a Buy rating on the shares after D-Wave announced the signing of a memorandum of understanding with South Korea’s Yonsei University and Incheon Metropolitan City to accelerate quantum computing adoption. The firm views this MOU, while non-binding, as “a significant strategic step that validates D-Wave’s technology on a global stage” and, most importantly, establishes a clear framework for the future sale and installation of an Advantage 2 quantum system. The acquisition of a system represents a potential double-digit million-dollar revenue opportunity as well as “anchoring D-Wave’s ecosystem strategy in a key, tech-forward market,” the analyst tells investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on QBTS:
- Benchmark Predicts 29% Upside for D-Wave Quantum Following Major South Korea Partnership
- D-Wave Quantum Stock Scores a New Street-Hight Price Target
- With D-Wave Quantum Stock (QBTS) Up 1,244%, Let’s Look at Who Owns It
- D-Wave Quantum’s Strategic Advancements and Revenue Growth Potential Justify Buy Rating
- D-Wave Quantum Partners with Yonsei University for Quantum Advancement