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Jefferies Backs D-Wave Quantum, Predicts 90% Surge

12/17/2025

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Story summary
  • Jefferies initiated coverage with buy ratings on IonQ and D-Wave Quantum, setting price targets of $100 and $45.
  • D-Wave Quantum's shares have risen 183% this year, and Jefferies sees potential for a further 90% gain.
  • Analyst Kevin Garrigan noted D-Wave's strong traction and first-mover advantage, citing a robust roadmap and over 100 customers.
  • Rigetti Computing has a hold rating and $30 price target, while D-Wave analysts endorse buying.