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

The analyst commented: "D-Wave's management showcased the capabilities of their quantum annealling and gate based solutions at their inaugural analyst day. The company gave additional product roadmap detail and some financial targets at the well-attended event at the NYSE. We continue to like D-Wave's ability to deliver revenues from quantum annealing while putting together what we think will likely be a competitive gate-based offering over time. Both of D Wave's technologies were validated by the recent $100M the U.S. government is investing in the company. We are reiterating our Buy rating and $43 price target on QBTS."

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Shares of D-Wave Quantum Inc. closed at $29.18 yesterday.