IonQ initiated with an Equal Weight at Morgan Stanley

Morgan Stanley initiated coverage of IonQ with an Equal Weight rating and $7 price target. The analyst says quantum "offers too much long-term opportunity to ignore" and that IonQ is an early leader in the industry. However, technology risk is high as quantum advantage remains unproven, the analyst tells investors in a research note. The firm sees an opportunity to become more constructive in the shares as the technology develops.