IonQ price target raised to $70 from $60 at Cantor Fitzgerald

Cantor Fitzgerald raised the firm’s price target on IonQ (IONQ) to $70 from $60 and keeps an Overweight rating on the shares following the Q3 earnings report. IonQ is in the very early innings of commercializing its technology, and Cantor thinks IonQ can capture 30% of the quantum hardware, software, and services market by 2035, which equates to $954M in present value terms, the analyst tells investors in a research note.