B. Riley Upgrades Rigetti Computing (RGTI) Stock to Buy from Neutral, Maintains PT

Rigetti Computing, Inc. (NASDAQ:RGTI) is one of the High-Flying Stocks to Buy Right Now. On January 22, B. Riley analyst Craig Ellis upgraded the company’s stock to “Buy” from “Neutral” with an unchanged price objective of $35. While the firm noted the stock’s valuation for this upgrade, it appreciates Rigetti Computing, Inc. (NASDAQ:RGTI)’s near-term commercial trajectory. Also, after India’s Centre for Development of Advanced Computing (C-DAC) order, the firm now has a much clearer visibility into estimates for 2026.

Notably, on January 20, it was announced that Rigetti Computing India P L, which is a wholly owned subsidiary of Rigetti Computing, Inc. (NASDAQ:RGTI), received a $8.4 million purchase order to deliver a 108-qubit quantum computer to C-DAC. This is India’s premier R&D organization of the Ministry of Electronics and Information Technology.

The system, which is slated to be deployed in H2 2026, would be installed on-premises at C-DAC’s Bengaluru center.

Rigetti Computing, Inc. (NASDAQ:RGTI) is a pioneer in full-stack quantum computing. The company builds quantum computers and the superconducting quantum processors.

While we acknowledge the potential of RGTI 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. This article is originally published at Insider Monkey.