1. Rigetti Computing is upgraded to Buy due to catalysts like DARPA's QBI program and advancements in quantum technology; 2. Progress toward a 100-qubit system with >99.5% fidelity positions the company for DARPA Stage B grants and revenue growth; 3. Attractive valuation suggests a 33% upside potential if book value multiples align with historical averages, targeting ~$25 per share.