In a report released today, Quinn Bolton from Needham reiterated a Buy rating on IonQ, with a price target of $80.00.
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Quinn Bolton has given his Buy rating due to a combination of factors that position IonQ as a potential leader in the quantum computing industry. The company’s ambitious technology roadmap, which aims to achieve a system with 2,000,000 physical qubits and 80,000 logical qubits by 2030, is a significant factor in this assessment.
IonQ’s strong management team and solid financial standing further support this positive outlook. Additionally, the company’s diverse product offerings in quantum networking and QKD security, along with the recent regulatory approval for the acquisition of Oxford Ionics, contribute to the confidence in IonQ’s future growth potential. As a result, the price target has been raised to $80, reinforcing the Buy recommendation.
According to TipRanks, Bolton is a top 100 analyst with an average return of 26.7% and a 58.27% success rate. Bolton covers the Technology sector, focusing on stocks such as IonQ, Marvell, and Micron.