Rigetti Computing price target lowered to $40 from $50 at Benchmark

Benchmark analyst David Williams lowered the firm’s price target on Rigetti Computing (RGTI) to $40 from $50 and keeps a Buy rating on the shares following the company’s Q3 report. While the firm remains constructive on Rigetti’s progress, particularly its continued roadmap execution, the recent volatility across emerging tech and AI sectors has tempered near-term investor enthusiasm for quantum-related shares, though the firm thinks the recent pullback is “healthy” with the stock still up 107% year-to-date and 6% quarter-to-date, the analyst tells investors.