Needham initiated coverage of Horizon Quantum with a Buy rating and $20 price target. Horizon is a quantum software company focused on building a platform that makes programming a quantum computer as intuitive as a classical system, the analyst tells investors in a research note. Needham believes that as the quantum industry approaches commercial advantage, a platform layer will be required to fully unlock the ecosystem's value. It believes Horizon Quantum has a first-mover advantage in quantum software infrastructure.
