B. Riley Securities maintains D-Wave Quantum at Buy, lowers price target to $22 from $27

What happened

B. Riley Securities maintained its Buy rating on D-Wave Quantum and lowered its price target to $22 from $27, an 18.5% decrease. The firm said the new target implied 106.0% upside from the November 6 closing price of $10.68.

Confirmed

Global impact / market context

The lower target means B. Riley now sees less potential share value than before, while still recommending a Buy. If investors follow that reassessment, demand for D-Wave shares could weaken, which may affect the company’s ability to raise money by issuing stock.

Analyst inference

The stated 106.0% upside is a comparison between the new target and one past closing price; it is an analyst estimate, not a promised return. The article gives no reason for the cut and reports no change in D-Wave’s business performance.

Analyst inference

What to watch

1. Look for a later B. Riley update explaining the cut; any stated change in expected sales, costs, or business progress could clarify what drove the lower target. Analyst inference
2. Compare future analyst ratings and targets for D-Wave with this revision; additional cuts could indicate broader caution, while steady or higher targets could suggest this change is specific to B. Riley. Analyst inference
3. Watch D-Wave’s upcoming reports on sales, spending, and cash available; those results could support or challenge the optimism suggested by B. Riley’s retained Buy rating. Analyst inference

Evidence

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