Benchmark Assigns Buy Ratings to IONQ, QBTS, RGTI; QBTS Soars 16% on AT&T Partnership

According to Benchmark, IonQ, D-Wave Quantum, and Rigetti Computing received "Buy" ratings on Monday, with price targets of $60, $30, and $25 respectively, implying over 90% potential upside for all three stocks. Shares rallied following the ratings, with QBTS gaining over 16%, while IONQ and RGTI each rose more than 8%.

Benchmark noted the quantum computing sector remains in early commercialization stages with multiple competing hardware architectures, stating it is not a "winner-takes-all" situation. The analyst recommended a diversified investment approach. QBTS gains coincided with D-Wave announcing an expanded quantum technology deployment agreement with AT&T.