An analyst from Benchmark assigned a Buy rating with a $40 price target, citing constructive progress on the company's chiplet-based architecture and roadmap execution. The company is positioned for a potential rebound as federal agencies restart quantum spending through renewed NQI funding, and recent contract wins are building momentum. However, the analysis notes that sharp stock gains and an improved earnings outlook are contrasted with rival IonQ's stronger balance sheet and revenue surge, suggesting headwinds remain in the nascent quantum industry.