<div id="readability-page-1">We recently published 10 Stocks Surprise With Double-Digit Gains; 4 Hit Record Highs. Rigetti Computing, Inc. (NASDAQ:RGTI) is one of the companies that stood stronger last week.Rigetti Computing saw its share prices jump by 11.61 percent on Monday to finish at $15.76 apiece after earning a bullish rating and a higher price target from an investment firm.In its market note, Needham raised its price target for Rigetti Computing, Inc. (NASDAQ:RGTI) to $18 from $15 previously, while maintaining a “buy” recommendation for its stock on strong confidence for the overall quantum computing industry.In particular, the investment firm was on a wait-and-see mode for government programs, namely the DARPA’s Quantum Benchmark Initiative (QBI) which aims to assess whether quantum devices would deliver more value than their cost over the next eight years; and the proposed Quantum Leadership Act of the Department of Energy which would program some $2.5 billion in capital expenditures over the next five years to boost quantum research.<div id="attachment_988981"><img src="https://imageproxy.pbkrs.com/https://imonkey-blog.imgix.net/blog/wp-content/uploads/2021/10/13065637/anton-maksimov-juvnsky-qM37iptlCNY-unsplash.jpg/query-YXV0bz1mb3J0bWF0JmV4cGlyZXM9MTc4NTg4ODAwMCZmaXQ9Y2xpcCZoZWlnaHQ9MzIwJndpZHRoPTQ4MA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="830" height="553" original-src="https://imageproxy.pbkrs.com/https://imonkey-blog.imgix.net/blog/wp-content/uploads/2021/10/13065637/anton-maksimov-juvnsky-qM37iptlCNY-unsplash.jpg/query-YXV0bz1mb3J0bWF0JmV4cGlyZXM9MTc4NTg4ODAwMCZmaXQ9Y2xpcCZoZWlnaHQ9MzIwJndpZHRoPTQ4MA"/>Photo by Anton Maksimov juvnsky on Unsplash</div>Needham said both initiatives could unlock new research funding and commercial opportunities for the industry.While we acknowledge the risk and potential of RGTI as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. 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RGTI

Rigetti Computing (NASDAQ:RGTI) shares surged 11.61% to $15.76 after Needham upgraded its price target from $15 to $18, maintaining a 'buy' rating. The firm expressed confidence in the quantum computing sector, particularly regarding government initiatives like DARPA’s Quantum Benchmark Initiative and the proposed Quantum Leadership Act, which could enhance funding and opportunities. Despite acknowledging risks, Needham highlighted the potential of AI stocks for higher returns, emphasizing the urgent need for energy solutions as AI demand grows.

Rigetti Computing (RGTI) Soars 11.6% on Bullish Rating, Price Target Upgrade