D-Wave Quantum price target raised to $7 from $3 at Roth MKM

Roth MKM raised the firm’s price target on D-Wave Quantum (QBTS) to $7 from $3 and keeps a Buy rating on the shares. The company has announced a new common stock sale agreement as a follow-on to its successful existing agreement executed to date, and with this announcement and increased share liquidity in the marketplace, D-Wave Quantum should have a healthy funding position relative to the expected near-term cash burn, the analyst tells investors in a research note.