Craig-Hallum began coverage on Rigetti Computing (RGTI, Financial) noting the company's potential to lead in the revolutionary quantum computing sector with a "Buy" rating and a $12 price target. Under the supervision of analyst Richard Shannon, the firm stressed how the power of quantum computing to address problems outside of the capability of traditional computing would change the technology. Though the actual impact of quantum computing might not show up for years, investors at this moment find value in its disruptive power and application to major sectors.
The experts noted that Rigetti's unique scaling advantages could help it to reach either parity or outperform rivals and acquire quantum supremacy in the upcomingyears. Drawing analogies to artificial intelligence, that became a run-away success in 2023, Shannon suggested that quantum computing could go in the same direction. Moreover, the company's capacity to tackle new difficulties and leverage a multi-billion dollar market shows its transformational power. Reflecting growing interest in the possibility of quantum computing, Rigetti shares have surged more than 752% over the last six months.
