Needham Raises Price Targets on Quantum Computing Stocks QBTS and RGTI
Needham analyst Quinn Bolton has increased price targets for D-Wave Quantum (QBTS) and Rigetti Computing (RGTI), maintaining 'Buy' ratings on both stocks. The adjustments reflect accelerating real-world applications and scalability catalysts in the quantum computing sector.
Bolton lifted QBTS's target from $20 to $48, suggesting 29.5% upside potential, while RGTI's target jumped from $18 to $51, implying 15.2% upside. The analyst, ranked #45 among 10,109 tracked by TipRanks, boasts a 59% success rate and 37% average return per rating.
D-Wave's proof-of-technology successes include partnerships with North Wales Police, where quantum applications halved incident response times, and Comcast, focusing on broadband optimization. These collaborations underscore quantum computing's growing practical utility.
