D-Wave (QBTS) Soars 7% as Jefferies Says 'Buy'

We recently published 10 Stocks Shining Bright Amid Wall Street’s Dull Spell. D-Wave Quantum Inc. (NYSE:QBTS) is one of the top performers on Tuesday.

D-Wave Quantum bounced back on Tuesday from two straight days of losses, jumping 7.50 percent to finish at $25.52 apiece as investors took heart from an investment firm’s bullish stance for the stock.

In a market report, Jefferies issued a “buy” recommendation on shares of D-Wave Quantum Inc. (NYSE:QBTS), alongside a price target of $45. The figure marked a 76 percent upside potential from its latest closing price.

The coverage reflected its optimism amid the commercial availability of D-Wave Quantum Inc.’s (NYSE:QBTS) Advantage2, which is expected to support customer education, larger experimentation budgets, and pilots feeding the annealing funnel.

The Advantage2 is an annealing quantum computer capable of solving computationally complex problems in business and science.

In other developments, the rally can also be attributed to early portfolio repositioning ahead of D-Wave Quantum Inc.’s (NYSE:QBTS) conference next year.

The conference, Qubits 2026, would gather leaders and innovators in the industry to share the latest advancements and discover how quantum is transforming business and science today.

While we acknowledge the potential of QBTS as an investment, 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 extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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