D-Wave Quantum Stock: A New Price Target Fuels Bullish Momentum

A fresh analyst note is generating significant buzz for D-Wave Quantum Inc. (NYSE: QBTS) this week. Mizuho Securities has initiated coverage on the quantum computing firm with a notably bullish stance, setting a price target that suggests substantial upside and positioning the company ahead of key rivals. The central thesis hinges on D-Wave’s distinct technological approach and its potential for near-term commercial application.

Analyst Initiates Coverage with Strong Conviction

Mizuho analyst Vijay Rakesh commenced coverage on D-Wave Quantum with an “Outperform” rating. His price target of $46.00 per share represents a potential gain of approximately 71% from the stock’s previous closing price of $26.80. In pre-market trading Thursday, the shares reacted positively to this development, posting notable gains.

The firm’s research also evaluated competitors IonQ and Rigetti Computing, but its confidence in D-Wave appears particularly pronounced. Rakesh explicitly links his optimism to the scalability and specific architecture of D-Wave’s technology, which he argues allows for a faster path to commercial adoption compared to other quantum models.

Commercial Readiness as a Key Differentiator

The bullish argument centers on a fundamental technological distinction. Mizuho contends that the market is underestimating the near-term revenue potential of D-Wave’s quantum annealing systems. While universal gate-model quantum computers may be years away from widespread practical use, D-Wave’s current generation of machines is already tackling complex optimization problems in fields like logistics and material science today.

This perspective aligns with the broader analyst consensus. D-Wave currently holds a near-unanimous “Strong Buy” rating. All ten market experts who have issued ratings on the stock over the past three months recommend purchasing it. The endorsement from Mizuho provides further validation for the company, whose shares have already surged more than 219% year-to-date, bringing its market valuation to nearly $9.4 billion.

Should investors sell immediately? Or is it worth buying D-Wave Quantum?

Supportive Regulatory and Funding Environment

This upgrade arrives during a period of heightened enthusiasm for the sector. Earlier this week, the White House announcement of a “Genesis Mission” captured market attention. The U.S. Department of Energy is allocating over $320 million to advance the integration of artificial intelligence and high-performance computing.

Although D-Wave was not explicitly named alongside major partners like AWS or Microsoft in that specific initiative, the clear political commitment to maintaining technological leadership lowers the perceived risk for the entire industry. The capital infusion into the “American Science Cloud” is expected to improve the operating environment for hardware specialists like D-Wave and attract further institutional investment.

Technical and Forward-Looking Considerations

From a chart perspective, the psychologically significant $30 level now becomes a key focal point. A sustained breakout above this resistance could pave the way for a move toward the $40 range. Investors should note, however, that sector volatility remains elevated, and the stock is sensitive to broader swings in the technology market.

The coming quarters will place the burden of proof on D-Wave’s management. They must demonstrate that the “faster adoption” praised by Mizuho translates into tangible contract wins and a narrowing of net losses. Until the next earnings report, further analyst commentary and news regarding government contracts are likely to remain primary drivers for the stock price.