Rigetti Computing Stock Surges 15.5% After Cantor Fitzgerald Initiates Coverage with Outperform Rating

Rigetti Computing stock surged 15.5% after Cantor Fitzgerald initiated coverage with an "outperform" rating and $15 price target. The investment bank believes quantum computing has "enormous economical implications," but Rigetti may benefit from larger companies advancing the technology. Despite a steep price-to-sales ratio and lack of profits, Cantor sees potential for momentum-driven growth.