D-Wave Quantum price target raised to $9 from $2.50 at Craig-Hallum

Craig-Hallum raised the firm’s price target on D-Wave Quantum (QBTS) to $9 from $2.50 and keeps a Buy rating on the shares. D-Wave Quantum, as well as other quantum computing names, has been caught up in a retail-driven run-up, and while this environment creates risks in the near-term, even after the run-up, the $1B-$8B quantum computing EVs are still quite small compared to the $1T+ market cap classical compute-driven companies that could be disrupted, the analyst tells investors in a research note.