TLDR
- Gary Mobley of StoneX launched coverage on Pasqal with a Buy rating and $15 target price.
- The price objective suggests potential upside of nearly 140% from Tuesday’s closing level.
- Shares of Pasqal advanced roughly 1% to $6.26 in Tuesday trading.
- The French firm specializes in neutral-atom quantum systems and reported approximately €70.4 million in awarded business at mid-2026.
- Pasqal serves as the lead organization for Q-PLANET, a €50 million European Union project focused on quantum supply chains.
Pasqal stock attracted positive attention from Wall Street this week. Gary Mobley, an analyst at StoneX, launched coverage on the quantum technology specialist Tuesday with a Buy recommendation.
Mobley assigned a $15 price objective to the shares. That level represents roughly 140% upside from Tuesday’s closing price.
PSQL stock climbed approximately 1% to $6.26 during Tuesday’s session. The gain coincided with the release of Mobley’s optimistic research report.
Pasqal Holding S.A. Ordinary Share, PSQL
The company became publicly traded in late August after completing a combination with a special purpose acquisition company. While the stock has retreated from its initial levels, Mobley remains undeterred by the near-term pullback.
He characterized Pasqal as “one of only a handful of quantum companies generating commercial revenue from systems installed in customer data centers today.” In an industry still largely focused on theoretical applications, that represents a significant competitive edge.
A second analyst weighs in
Mobley’s bullish stance follows similar enthusiasm from another research firm. Only days before, David Williams of Needham initiated coverage with a Buy recommendation of his own.
Williams positioned Pasqal as “one of the most commercially advanced neutral-atom quantum platforms.” Receiving two positive initiations within a single week is notable for any stock, particularly one that only began public trading a month ago.
The company’s technological foundation plays a central role in the investment thesis. Pasqal employs neutral atoms—manipulated and held in place by laser beams—as the basis for its quantum bits, diverging from the semiconductor-based architectures favored by many rivals and government initiatives in the United States.
CEO Wasiq Bokhari outlined the rationale to Barron’s in an August interview. “You don’t have to manufacture a chip; we use individual atoms as our qubits,” he noted. He emphasized that because the atoms are inherently identical, the technology eliminates manufacturing defects and the need for physical interconnections between qubits.
Mobley sees this architectural choice as a potential scalability advantage. He argues that neutral-atom platforms may sidestep the expense and engineering challenges that chip-dependent competitors could encounter as they attempt to expand their systems.
Financial metrics supporting the case
At the end of the first half of 2026, Pasqal had secured approximately €70.4 million in booked and awarded contracts. According to Mobley’s analysis, commercial orders account for roughly half that total.
Within the order book, €12.5 million is scheduled for fulfillment during the second half of this year. That figure alone would exceed the company’s entire 2025 revenue performance.
Mobley’s research coverage extends to other quantum computing players, including IonQ, D-Wave Quantum, and Rigetti Computing. He doesn’t view the quantum sector as heading toward a single dominant player in the near term.
Rather, he recommends investors consider diversifying exposure across multiple quantum companies while the underlying technology continues to develop. The field remains in its early stages, with no single organization having achieved widespread commercial deployment at meaningful scale.
In related developments, Pasqal holds the leadership position in a newly formed European collaboration named Q-PLANET. The initiative has secured €50 million in funding over a three-year period and unites 28 participating organizations spanning 11 nations.
The program aims to establish a European-based supply chain for components specific to neutral-atom quantum technologies, encompassing lasers and specialized atom chips. Loïc Henriet, Pasqal’s Chief Technology Officer, indicated the initiative has transitioned “from ambition to execution” just three months following its official Brussels kickoff.
Within the Q-PLANET framework, Pasqal will spearhead the development of chip-integrated laser sources operating at 1013nm wavelengths. Additionally, the company will contribute to testing and qualification processes for microfabricated vapor cells deployed in atomic timekeeping devices and sensor applications.
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