RBC Capital Markets initiated coverage of Xanadu Quantum Technologies (XNDU.TO, XNDU) with a $16 price target and outperform rating.
Analyst Paul Treiber said the quantum computing hardware and software company has multiple years before commercialization, but it has achieved key development milestones.
"We anticipate that the stock will rally as Xanadu achieves more milestones and visibility improves to monetization," Treiber said in a note to clients.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
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