Benchmark Turns Bullish on Rigetti

Rigetti Computing (NASDAQ: RGTI) rose 4.5% in premarket trading Tuesday after Benchmark significantly raised its price target from $20 to $50. The upgrade reflects Rigetti’s strong execution, unique quantum products, and growing momentum across the quantum computing sector.

Analyst Commentary

Analyst David Williams wrote:
“We are increasing our RGTI price target from $20 to $50 as momentum across the quantum sector accelerates and Rigetti’s execution continues to validate its long-term strategy.”
Key reasons cited:

Scalable superconducting architecture.
Improving qubit fidelity.
Rising government and private contracts.
Signals of hardware adoption and commercialization.
Cost-efficient QPU design and vertically integrated stack.

Strategic Positioning

Rigetti’s strong intellectual property portfolio is seen as both a competitive moat and potential M&A appeal for larger tech firms seeking to accelerate quantum development.
The company’s commercial traction underscores that quantum adoption is shifting from experimentation toward early-scale use cases.

Sector Context

Investor interest in quantum computing is expanding, with several $1B+ capital raises signaling institutional confidence.
Williams noted valuations remain challenging but emphasized the long-term opportunity is enormous.
The sector is still in its “early innings”, but momentum remains with investors as technical and commercial progress accelerates.