Cantor Fitzgerald analyst Troy Jensen raised the firm’s price target on D-Wave Quantum (QBTS) to $40 from $20 and keeps an Overweight rating on the shares. D-Wave ended the quarter with strong liquidity and additional post-quarter cash proceeds from warrant exercises, the analyst tells investors in a research note. As quantum computing commercialization progresses, D-Wave’s early lead positions it to capture a meaningful share of the long-term quantum hardware, software, and services market, the firm argues.
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