D-Wave Quantum price target raised to $9 from $4.50 at B. Riley

B. Riley analyst Craig Ellis raised the firm’s price target on D-Wave Quantum (QBTS) to $9 from $4.50 and keeps a Buy rating on the shares. The firm cites its industry research supporting paths to commercialization led by D-Wave, the company’s stronger than expectedQ44 bookings, and what it believes is “rising investor sector engagement appetite” for the target doubling. D-Wave is a “differentiated tile in the quantum mosaic” with a “clearly visible commercial uptake path,” the analyst tells investors in a research note. Riley believes further commercial progress and balance sheet improvement at the company are “significant” and reflects that in its new price target