D-Wave Quantum price target raised to $4 from $2 at Benchmark

Benchmark raised the firm’s price target on D-Wave Quantum to $4 from $2 and keeps a Buy rating on the shares. D-Wave’s Q4 results Advantage 2 prototype system has shown substantial advances in quantum annealing, potentially demonstrating solutions to practical problems unattainable on classical systems, the analyst tells investors in a research note. Customer feedback on the next generation system prototype has been positive since its release, with over 100,000 problems submitted in the first four weeks of availability, the firm says.