Rigetti Computing Hold Rating with 142.77% Upside Highlights Sector Pressure
Zacks assigns Rigetti Computing a #3 (Hold) ranking with an average price target implying 142.77% upside from its last close of $16.60. Morgan Stanley’s reduction of IonQ’s target from $58 to $35 underscores valuation pressures facing quantum peers like Rigetti.
1. Zacks Assigns Hold Rating and Price Target
Rigetti Computing receives a Zacks Rank #3 (Hold) with an average price target that represents a 142.77% increase from its $16.60 closing price. The analysis highlights potential upside based on anticipated technological milestones and enterprise partnerships, while cautioning on early-stage revenue and profitability timelines.
2. Sector Valuation Pressures from IonQ Target Cut
Morgan Stanley lowered IonQ’s price target to $35 from $58, citing qubit stability challenges and a market preference for near-term profits. This reduction reflects broader skepticism toward quantum computing peers, signaling similar valuation pressures for Rigetti as investors weigh commercial hurdles against long-term growth prospects.