IonQ (IONQ) Stock Climbs as Top Analyst Raises Price Target to $100
This article first appeared on GuruFocus.
Oct. 10 Shares of IonQ (NYSE:IONQ) rose 4.3% on Thursday and about 2% on early Friday as optimism built around the quantum computing firm’s latest strategic move and upbeat analyst outlook.
The company recently closed its purchase of Vector Atomic, a specialist in quantum sensors for navigation and timing systems. The deal marks IonQ’s entry into the emerging quantum sensing market, which is drawing interest from defense and aerospace sectors.
B. Riley Securities analyst Craig Ellis reiterated a Buy rating on IonQ and raised his price target to $100 from $75, the highest on the Street, implying roughly 29% upside from current levels. Ellis ranks among TipRanks’ top analysts and…
