Rosenblatt Reiterates Buy Rating on D-Wave Quantum Inc. (QBTS)

Rosenblatt analyst Kevin Garrigan reiterated a Buy rating and $43.00 price target on D-Wave Quantum Inc. (NASDAQ: QBTS).

The analyst commented: "D-Wave's August 6th pre-market 2Q release was nicely preceded by today's AT&T announcement about using D-Wave's optimization solutions to maximize network efficiency. AT&T has already been using D-Wave's technology to optimize field operations, this announcement further highlights how annealing optimization tools can reduce the processing time for an AT&T network optimization workload from approximately one hour to less than 15 seconds. While no financial metrics were given, we think the announcement is a nice proof point for their Advantage optimization solution. On the gate based compute front, we think we will likely get some update on progress towards their roadmap, and also look forward to hearing about machine shipments over the remainder of the year. We like the direction of travel here and are reiterating our Buy rating and $43 price target on QBTS."

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 $19.51 yesterday.

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