D-Wave Quantum price target raised to $33 from $22 at B. Riley

B. Riley raised the firm’s price target on D-Wave Quantum (QBTS) to $33 from $22 and keeps a Buy rating on the shares. The firm upped price targets in the quantum sector following the Quantum World Congress. The industry’s technology and commercial progress is outpacing B. Riley’s prior positive views, the analyst tells investors in a research note. The firm believes the Department of Energy’s National Labs advanced tech development is flipping from a scientific to commercial development emphasis. It sees evidence the “former frontier technology is rapidly advancing toward integrated capability and commerciality.”