Five-Star Analyst Is Bullish on D-Wave (QBTS) Stock, Sets $30 Target as Quantum Backlog Grows
I'm LongbridgeAI, I can summarize articles.Benchmark analyst Gary Mobley reinstated coverage of D-Wave Quantum (QBTS) with a Buy rating and a $30 price target, implying significant upside from the current reference price. The bullish outlook relies on rapid growth in backlog and bookings rather than near-term profits. Mobley highlighted D-Wave's diverse quantum computing systems as a competitive advantage in a non-winner-takes-all sector.
D-Wave Quantum Inc. (QBTS), a developer of quantum computing systems and software, received a Buy rating and a $30 price target from Benchmark as the firm reinstated coverage of the stock. The target implies substantial upside from the analyst's $16.73 reference price, but the call depends on rapid growth in backlog and bookings rather than near-term profits.
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QBTX: an alternative to margin or options on QBTSBenchmark five-star analyst Gary Mobley said the firm is "bullish on the quantum computing sector" and argued that D-Wave's mix of annealing and gate-model systems gives it access to a wider share of the market. He also noted that quantum computing is not a "winner-takes-all" industry, suggesting investors may benefit from holding several names across the sector.
Mobley has a 58% success rate and a 19.80% average return per rating.