Lake Street Reiterates Buy Rating on Quantum Computing, Inc. (QUBT)

Lake Street analyst Maxwell Michaelis reiterated a Buy rating and $16.00 price target on Quantum Computing, Inc. (NASDAQ: QUBT).

The analyst commented: "On June 23, QCi announced it has completed the acquisition of NHanced Semiconductors, Inc. ("NHanced") for a combination of cash and QCi stock valued at $73.1M, subject to adjustments, plus up to an additional $72.0M earnout. We view the deal as a solid follow-on to the Luminar Semiconductor (LSI) acquisition that closed in February, further deepening QCi's photonics manufacturing and advanced-packaging capabilities. Management is positioning the transaction as the launch of Fab 2, arriving years ahead of the Company's original timeline. We believe the acquisition accelerates QCi's transition from a research- and prototyping-driven model toward scalable commercial production by adding semiconductor and nanophotonics fabrication, advanced-packaging expertise, and specialized engineering talent. While the financial contribution is not yet
quantified, we believe the strategic value is meaningful, and we reiterate our Buy rating and $16 price target."

For an analyst ratings summary and ratings history on Quantum Computing, Inc. click here. For more ratings news on Quantum Computing, Inc. click here.

Shares of Quantum Computing, Inc. closed at $9.05 yesterday.

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