Rosenblatt Starts D-Wave Quantum Inc. (QBTS) at Buy

Rosenblatt analyst Kevin Garrigan initiates coverage on D-Wave Quantum Inc. (NYSE: QBTS) with a Buy rating and a price target of $30.00.

The analyst comments: "We are initiating coverage of D-Wave Quantum (QBTS) with a Buy rating and a 12-month price target of $30. We believe D-Wave offers a differentiated way to gain exposure to the rapidly growing quantum computing market. It is our view that quantum annealing, a subsector of quantum computing, offers advantages over both classical computing and gate-based quantum systems for optimization workloads. We have a high level of confidence that D-Wave will capture significant market share in the quantum annealing market leading to D-Wave revenues growing at a +66% CAGR from 2025-2030. We believe continued demonstration of quantum supremacy, growing the commercial customer base, and executing on the dual-track product road map will drive stock price appreciation in the long-term. Our 12-month price target of $30 equates to a 68.4x EV/S multiple on 2030 revenue discounted back."

For an analyst ratings summary and ratings history on D-Wave Quantum Inc. click here. For more ratings news on D-Wave Quantum Inc. click here.

Shares of D-Wave Quantum Inc. closed at $18.35 yesterday.

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