Alliance Global Partners analyst Brian Kinstlinger initiated coverage of Rigetti Computing (RGTI) with a Buy rating and $3.50 price target. There is a race to achieve quantum advantage and as the only company to publicly report multiple sales of a quantum computer at 99% fidelity, the firm argues Rigetti is “leading the race.” In a highly competitive request for proposal process with the National Quantum Computing Centre, or NQCC, Rigetti beat out IBM (IBM) and the field of competitors, the analyst notes as evidence of its lead position. The firm estimates revenue of $14.3M in 2024 and $21M in 2025, adding that it expects the inflection points to be in 2026 and 2027.
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