Jefferies starts coverage on quantum computing cos, bullish on D-Wave and IonQ
Shares of quantum computing cos D-Wave Quantum QBTS.N, IonQ IONQ.N are marginally up, and Rigetti RGTI.O slightly down in premarket
Jefferies initiates coverage on QBTS and IONQ with "buy" ratings and PT $45 and $100, respectively, and RGTI with "hold"; PT $30
Brokerage says QBTS is supported by ecosystem growth, a two-pronged roadmap, a full-stack platform, and strong enterprise workload stickiness
For IONQ, brokerage says co benefits from ecosystem growth, trapped-ion technology advantages, a fault-tolerant roadmap, expansion into networking and sensing, and strong government/enterprise partnerships
RGTI has a balanced outlook—industry tailwinds and chiplet scalability versus execution challenges, competitive pressure, and heavy reliance on government revenue - Jefferies
As of last close, QBTS, IONQ, and RGTI are up nearly 183%, 10.3%, and 54.2%, respectively, YTD
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