D-Wave Quantum price target raised to $10 from $7 at Roth MKM

Roth MKM analyst Suji Desilva raised the firm’s price target on D-Wave Quantum (QBTS) to $10 from $7 and keeps a Buy rating on the shares after its Q4 results and guidance. The company is driving revenue and booking opportunities while leveraging its growing sales effort to penetrate key vertical opportunities, the analyst tells investors in a research note. Roth adds it is encouraged by D-Wave’s growing backlog and opportunity to diversify into hardware sales beyond core QCaaS quantum cloud services.