Rigetti Computing rises after B Riley turns bullish

Rigetti Computing RGTI.O shares up 3.8% at $24.57 on Thurs after B Riley upgrades quantum computing firm to 'buy' from 'neutral'

B Riley says it's "incrementally more encouraged" with the near-term roadmap’s commercial trajectory following RGTI's announcement on Tues of $8.4 mln order from India's Centre for Development of Advanced Computing (C-DAC)

Brokerage sticks with $35 PT, implying 48% upside to stock's last close

For fiscal 2025, Wall Street expects RGTI to post Q4 rev of $2.3 mln and full-yr rev of $7.6 mln, according to LSEG data

Consensus view for FY26 rev is $21.2 mln

Now, 10 of 12 brokerages rate the stock "strong buy" or "buy", 1 "hold" and 1 "sell"; median PT of $40 - LSEG

With the move on Thurs, shares up ~11% to begin 2026 and up roughly 75% over the past 12 months