IonQ Shares Rise After BofA Starts Coverage at Buy
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IonQ Shares Rise After BofA Starts Coverage at Buy Renato Neves, CFA Mon, September 28, 2026 at 3:19 PM EDT 1 min read IONQ BAC This article first appeared on GuruFocus . BofA Securities initiated coverage of IonQ ( NYSE:IONQ ), the quantum computing company, with a Buy rating and a $60 price target, citing its semiconductor-based path to scaling qubit counts, broad customer engagement and exposure across quantum computing, communications and sensing. The target implies about 30% upside from Monday's opening price of $46.31 a share. IonQ shares were up 4.44% intraday, as of 10:00 a.m. ET. Warning! GuruFocus has detected 4 Warning Signs with IONQ. Is IONQ fairly valued? Test your thesis with our free DCF calculator. BofA applies a 7x enterprise value-to-sales multiple to $2.5 billion of estimated quantum hardware and services revenue and 2x to $1.2 billion of estimated foundry revenue, for a blended multiple of 5.4x fiscal 2030 sales. IonQ added foundry capacity through its acquisition of SkyWater Technology, a deal that helped lift its fiscal 2026 revenue guidance midpoint to $455 million from $285 million. The firm said commercial adoption is still early because today's qubits are error-prone, but it expects improving fidelity, error correction and scale to produce more useful machines by 2030. BofA's $60 target matches StoneX's and sits below Cantor Fitzgerald's $70 and B. Riley's $100, while Mizuho recently cut its target to $52.
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