Benchmark lowered the firm’s price target on Rigetti Computing (RGTI) to $25 from $35 and keeps a Buy rating on the shares. The firm recently hosted Rigetii’s CEO Subodh Kulkarni and CFO Jeff Bertelsen for a fireside chat and “came away with increased confidence in the company’s technology trajectory and strategic positioning,” the analyst tells investors. While the firm believes Rigetti’s technology and pure play computing focus is “compelling,” it lowers its price target to reflect the “malaise across the quantum sector.”
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