Quantum Computing Inc. (NASDAQ:QUBT) is one of the Best Quantum Computing Stocks to buy and Hold Forever.
Although the stock has declined around 12.6% over the past month, the Street sees more than 107% upside from the current level
The bullish sentiment from analysts is based on the expectation of accelerating commercialization of quantum and photonic technology. Recently, on July 6, Lake Street reiterated a Buy rating on Quantum Computing Inc. (NASDAQ:QUBT) with a price target of $16. The firm noted that the bullish sentiment comes from the company’s recent acquisition of NHanced Semiconductors.
The deal was completed on June 23 and is valued at $73.1 million in cash and stock, plus up to $72.0 million in additional earnout payments. Lake Street sees this as a follow-on to the Luminar Semiconductor acquisition that closed in February. The firm noted that together, the deals deepen Quantum Computing’s photonics manufacturing and advanced-packaging capabilities.