Rigetti Computing price target raised to $5.50 from $3.50 at Alliance Global Partners

Alliance Global Partners analyst Brian Kinstlinger raised the firm’s price target on Rigetti Computing (RGTI) to $5.50 from $3.50 and keeps a Buy rating on the shares after the company announced last week that it had completed its $100M At-The-Market offering. The firm raised its price target with the financing risk eliminated for five years, stating that it remains “bullish” as it believes Rigetti is “in a leadership position in the development of a gate-based QPU that demonstrates quantum advantage.”