Stock Track | D-Wave Systems Soars Over 5% as Analysts Raise Price Target on Quantum Computing Optimism

Stock Track2024-12-20

Shares of D-Wave Systems Inc. (QBTS), a leading quantum computing company, soared 5.18% in pre-market trading on Friday morning. The stock rally was driven by renewed optimism in the quantum computing sector and a positive analyst action.

Benchmark, a research firm, raised its price target on D-Wave Systems to $8 from $3, while maintaining a "Buy" rating on the stock. The firm cited positive sentiment around quantum computing as the key reason behind the bullish call.

The broader quantum computing stocks also witnessed a rebound on Friday, with companies like Quantum Corp (QMCO) and Rigetti Computing (RGTI) trading higher. This sector-wide rally suggests that investors are regaining confidence in the long-term potential of quantum computing technology.

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