Analyst Upgrade Sparks Momentum for Rigetti Computing Shares

A fresh institutional endorsement has injected renewed optimism into Rigetti Computing's equity. Following a significant decline since last October, the recent analysis suggests a potential recovery phase may be underway. The market's focus appears to be shifting from short-term price action to the longer-term confidence signaled by a substantially higher price target.

The immediate market reaction was pronounced. Trading volume surged, propelling the stock to a sharp intraday gain. According to market data, shares briefly tested levels just below $28, a price point now viewed as a key near-term resistance level.

This movement carries significant technical weight. After reaching an all-time high near $58 in mid-October, the stock faced considerable selling pressure, retreating to lower support zones. The new analyst coverage has, for now, arrested that downward trajectory and prompted a counter-trend rally.

Current metrics highlight the ongoing volatility:
* Previous closing price: €22.70
* Distance from 52-week high: approximately -53%

The Relative Strength Index (RSI) hovering around 51 indicates a neutral stance, with the stock neither in clear overbought nor oversold territory. Meanwhile, an annualized 30-day volatility figure nearing 100% underscores the continued potential for sharp price swings.

Wedbush Initiates Coverage with Bullish Stance

The catalyst for this shift is a new research initiation by Wedbush Securities. The firm has commenced coverage of Rigetti with an "Outperform" rating, indicating an expectation that the stock will outpace the broader market's returns.

Should investors sell immediately? Or is it worth buying Rigetti?

Central to this assessment is a $35 price target. Based on recent trading levels, Wedbush analysts see roughly 30% further upside potential. The market is interpreting this bullish call as validation of Rigetti's ongoing strategic and technological positioning within the competitive quantum computing sector, despite the severe volatility witnessed in recent months.

This positive outlook arrives as the shares are emerging from a pronounced correction that began with the October peak. The timing of a major firm issuing such a definitive vote of confidence strengthens the narrative of a potential trend reversal.

Institutional Sentiment and Forward-Looking Risks

For smaller technology equities like Rigetti, a favorable rating from an established firm like Wedbush often serves as a critical signal. It can prompt other research houses and institutional investors to follow with their own evaluations.

The immediate question for traders is whether the stock can achieve a sustained breakout above the $28 resistance area. Wedbush links its $35 target price directly to the assumption that Rigetti will successfully execute its stated technology roadmap, thereby solidifying its relevance in the quantum computing market.

For investors, the implication is clear: the near-term investment thesis is less dependent on specific quarterly results and more tied to the credibility of this long-term technological progression. As long as the market adopts the Wedbush assessment as a new benchmark, elevated volatility and rapid directional changes are likely to persist. The crucial factor will be Rigetti's ability to deliver tangible operational progress in the coming months, substantiating the renewed growth expectations it now carries.