Arqit Quantum price target lowered to $3 from $4 at H.C. Wainwright

H.C. Wainwright lowered the firm’s price target on Arqit Quantum to $3 from $4 and keeps a Buy rating on the shares. The analyst believes the company has ample financial runway to move the business towards profitability. The firm expects Arqit Quantum to show accelerating revenue growth from current partnerships in 2024, as well as add new partners throughout the year.