DA Davidson Reiterates Buy Rating on IonQ, Inc. (IONQ)

DA Davidson analyst Alex Platt reiterated a Buy rating and $50.00 price target on IonQ, Inc. (NYSE: IONQ)

The analyst comments "We've contended that the timeframe for useful quantum computing is well within the decade, but this has been met with skepticism, with most pointing toward comments from technology leaders who insist fault tolerance is still decades away. However, earlier today, Microsoft unveiled its Majorana 1 quantum chip, leveraging topological qubits, which directly challenge the idea that large-scale quantum systems require millions of physical qubits and brute-force error correction. This breakthrough from Microsoft signals to the industry that quantum computers capable of solving real industrial problems are now a matter of years away, not decades. We believe this moment serves as an undeniable validation of IonQ's modular approach to quantum hardware, and thus reiterate our BUY rating and $50 PT."

For an analyst ratings summary and ratings history on IonQ, Inc. click here. For more ratings news on IonQ, Inc. click here.

Shares of IonQ, Inc. closed at $33.94 yesterday.

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