IonQ: Wedbush Starts Coverage With Outperform
Wedbush initiates IonQ coverage with Outperform rating
IONQ Wedbush assumed coverage of IonQ with an Outperform rating and a price target of $75.
The firm continues to believe that companies in the quantum computing market are defined by the solving of engineering and physics R&D challenges through successful execution against technology roadmap milestones; the evolution of customer bases and cash inflow sources from government research contracts and collaborations into broader commercial markets; and the operational transition of these companies from cash-burning, capital-intensive, venture-style projects into efficient and scalable businesses.
Wedbush also continues to believe there is not yet a clear winner as to which modality will prove best suited for general-purpose, mass-adopted quantum computing.