DA Davidson initiated coverage of IonQ (IONQ) with a Buy rating and $50 price target The firm believes IonQ represents “a compelling pure-play investment positioned to capitalize on quantum computing’s rapid growth,” driven by increasing inadequacy of classical computing for solving complex problems, while also citing the company’s “leadership in this emergent frontier.” Unlike competing architectures from IBM (IBM), Google (GOOGL), and others, a core technological advantage in the company’s trapped-ion qubit architecture offers IonQ greater reliability, accuracy, and scalability, the analyst tells investors.
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