RBC Boosts XNDU Rating, Sees Moderate Buy Potential

Royal Bank of Canada (RBC) has upgraded Xanadu Quantum Technologies Limited's Class B Subordinate Voting Shares to a 'moderate buy' rating, according to Zacks.

This is not the only recent change to RBC's view on the company. In August, they reduced their price target from $45.00 to $34.00 and maintained a 'buy' rating.

Other analysts have also weighed in on Xanadu Quantum Technologies Limited. Weiss Ratings cut the stock from a 'sell (d-)' rating to a 'sell (e+)' rating, while Wall Street Zen raised shares from a 'strong sell' rating to a 'sell' rating.

Xanadu Quantum Technologies Limited is a Canadian quantum computing company focused on developing photonic quantum computers and the software needed to program and operate them. The company has a market cap of $1.39 billion and a P/E ratio of -10.90.