BUZZ - IonQ's stock price rises as Bank of America joins the bullish camp

September 28 - ** Quantum computing company IonQ (IONQ.N) saw its shares rise 3.7% in early trading on Monday to $47.18, poised to post gains for the sixth consecutive session, after BofA Global Research initiated coverage with a "Buy" rating.

** The firm set a price target of $60, representing a 32% upside from Friday’s closing price.

** In a research report, BofA analyst Vivek Arya noted that IonQ is the largest pure-play quantum computing publicly traded company by revenue, with strengths in “scaling the number of qubits using semiconductor technology, broad customer engagement, and a comprehensive footprint in quantum computing, communication, and sensing.”

** Arya stated that the company’s next-generation Superion 256 system will be the first to adopt Electron Qubit Control (EQC) technology on a silicon-based chip, adding that this marks a significant architectural shift that could greatly expand logical qubit capacity.

** Arya stated that the recently completed SkyWater acquisition (link) not only brings the company a commercial foundry business in operation but also internalizes process development, wafer fabrication, and advanced packaging capabilities.

** According to LSEG data, out of 15 brokerages covering IONQ, 12 rate the stock as "Strong Buy" or "Buy," and 3 rate it as "Hold"; the median price target is $65.

** With the latest gain, the stock is up about 5% so far this year but still trades roughly 44% below its 52-week intraday high of $84.64, set on October 13.

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