B. Riley analyst Craig Ellis raised the firm’s price target on D-Wave Quantum (QBTS) to $11 from $9 and keeps a Buy rating on the shares. The firm believes Microsoft’s “Quantum Ready” service addition to Azure’s Quantum platform and proclamation that 2025 will be “the year to become quantum-ready” could be potentially significant for quantum computing sector sentiment. Riley views quantum computing as the “what’s next” in high-performance compute beyond in-progress artificial intelligence uptake. Recent industry and company developments should bring stock demand, the analyst tells investors in a research note.
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