Mizuho Lifts D-Wave Quantum Target with QBTS Shares Higher, Still Cites Valuation Risks
D-Wave Quantum shares soared 14.3% to $26.71 after Mizuho raised its price target to $35 and maintained an Outperform rating, following the company’s first Analyst Day and expanded gate-model roadmap; despite $33.4 million in bookings and $588.4 million in cash, revenue fell 81% to $2.9 million and losses widened, making future execution critical ahead of the next earnings report.