Wedbush initiated coverage of Rigetti Computing (NASDAQ: RGTI) on Monday with an Outperform rating. The firm set a price target of $40.00. This target represents significant potential upside from the current trading price of $14.95.
Wedbush cited Rigetti’s progress in qubit fidelity as a primary driver. The firm views fidelity as a more critical milestone for 2026 than total qubit count.
Rigetti recently made its 108-qubit Cepheus-1 system generally available. The company is broadening its customer base through sales of Novera systems. Current collaborations include major financial institutions and supercomputing centers.