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Mizuho is bullish on D-Wave Quantum's quantum computing development roadmap and has raised its price target.
Quantum computing company D-Wave Quantum (QBTS.US) rose another 1.6% in pre-market trading, reaching $26.68 per share, after closing up 12.37% the previous day. On the news front, Mizuho Securities raised its price target for the company and reiterated its optimistic long-term outlook following D-Wave’s inaugural analyst day event. The firm increased its price target from $29 to $35 while maintaining its “outperform” rating. Mizuho analysts noted that D-Wave not only continues to maintain its leadership position in quantum annealing but also presented a clear technological roadmap toward fault-tolerant gate-model quantum computing, which
U.S. Stocks Move | D-Wave Quantum Rises 1.6% in Pre-Market Trading as Mizuho Upgrades Price Target, Citing Confidence in Its Quantum Computing Roadmap
Gelonghui, June 16 | D-Wave Quantum (QBTS.US) rose another 1.6% in pre-market trading to $26.68, following a 12.37% gain in the previous session. Mizuho Securities raised its price target for the company and reiterated its optimistic long-term outlook after D-Wave’s inaugural analyst day event. The firm increased its price target from $29 to $35 while maintaining an “outperform” rating. Analysts at the bank noted that D-Wave continues to maintain its leadership in quantum annealing and has also demonstrated a path toward fault-tolerant gate-model quantum computing.
Shares of Quantum Computing-related Companies Are Trading Higher Amid Market Strength Related to the U.S.-Iran Deal. The Industry Previously Moved With Space-related Stocks, and Strength May Be Responding to SpaceX's Recent IPO