The shares of two quantum computing stocks -- D-Wave Quantum (QBTS) and Rigetti Computing (RGTI) -- are rallying 20% and 26%, respectively, today after separate investment banks issued positive notes about each of the names today.

Investment bank Benchmark raised its price target on D-Wave to $8 from $3 after meeting with the company's CFO. Noting that investors' sentiment towards quantum computing firms has rebounded, Benchmark believes that the risk posed by the company has dropped after it carried out a capital raise. As a result, the investment bank, which noted that the capital raise was less dilutive to shareholders than feared, has become more bullish on QBTS stock.

A modern computer datacenter, running an advanced quantum computer system.

Additionally, Benchmark is upbeat on D-Wave's upcoming projects and predicts that its new go-to-market strategy will enable it to launch projects at a faster pace going forward.

Turning to Rigetti, investment bank Craig-Hallum started coverage of the shares with a Buy rating and a $12 price target. According to the investment bank, quantum computing can be revolutionary. As a result, although the technology will likely not proliferate for a number of years, it is worthwhile for investors to focus on it now, the investment bank stated.

And given Rigetti's unmatched ability to grow its quantum business, it may be able to surpass its peers over the longer term, Craig-Hallum believes.

While we acknowledge the potential of QBTS and RGTI, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than QBTS and RGTI but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. READ ALSO  8 Best Wide Moat Stocks to Buy Now  and  30 Most Important AI Stocks According to BlackRock Disclosure: None. This article is originally published at Insider Monkey.