Lake Street Is Bullish On Quantum Computing Inc. (QUBT) With 38% Potential

Quantum Computing Inc. (NASDAQ:QUBT) is among the best US stocks to buy under $20. On November 17, Max Michaelis, an analyst at Lake Street, reaffirmed the ‘Buy’ rating on Quantum Computing Inc. (NASDAQ:QUBT), while slashing the price target to $16 from $24, which suggests an upside potential of about 38%. Although the analyst thinks the stock could surge higher given investors’ clearer view of the company’s revenue revamp and considering the opportunities in this greenfield sector, the lower price target reflects the “broader multiple compression” in quantum computing, according to TheFly.

During its earnings call on November 14, management unveiled a three-year plan to improve the manufacturing process and enhance production. Quantum Computing Inc. (NASDAQ:QUBT) is committed to accelerating technology development through mergers and acquisitions, together with transitioning to volume production by the end of the decade. Dr. Yuping Huang, the CEO, noted the company’s dedication to making quantum technology accessible. As he cites,

“We are working to make quantum usable for a broader community of industries and innovators.”

Investors eye the company’s participation in the UBS Global Technology and AI Conference, announced on November 25. Scheduled for December 1-4 in Scottsdale, Arizona, the conference will feature Dr. Yuping Huang, Interim Chief Executive Officer, and Chris Roberts, Chief Financial Officer.

Quantum Computing Inc. (NASDAQ:QUBT) is a New Jersey-based integrated photonics company specializing in quantum machines for both commercial and government markets. Founded in 2001, the company is also engaged in the development of entropy quantum computers.

While we acknowledge the potential of QUBT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None.