Roth Capital Raises the PT on D-Wave Quantum (QBTS), Maintains a Buy

​D-Wave Quantum Inc. (NYSE:QBTS) is one of the Hot Growth Stocks to Invest in Now. On October 16, Sujeeva De Silva from Roth Capital raised the firm’s price target on D-Wave Quantum Inc. (NYSE:QBTS) from $20 to $50, while keeping a Buy rating.

​The increased price target follows the company’s announcement regarding signing an agreement with Swiss Quantum Technology to deploy a D-Wave Advantage2 quantum computer in Europe. The deal is worth 10 million euros.

The analyst noted that he is encouraged by the company’s latest agreement in Europe. He highlighted that this deal paves the way for potential hardware sales. He noted that by securing additional customers, D-Wave Quantum Inc. (NYSE:QBTS) has validated the firm’s constructive thesis on the company.

​D-Wave Quantum Inc. (NYSE:QBTS) is a quantum computing company that develops quantum computing systems, software, and cloud services for enterprises and developers.

While we acknowledge the potential of QBTS to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than QBTS and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.