Infleqtion (INFQ) Stock Jumps 8% After Citi Raises Target and Reaffirms Buy Rating

Infleqtion shares surged 8.3 percent on Friday to close at $13.59, after Citi lifted its price target to $22 from $20 while maintaining a Buy rating. The quantum technology firm touched an intraday high of $13.61, with trading volume of roughly 4.6 million shares—down 52 percent from the average daily volume of 9.67 million.

Citi’s revised target signals confidence in further upside, reinforcing a bullish view on the stock at current levels. Beyond Citi, analyst sentiment remains broadly positive: Wedbush initiated coverage with an Outperform rating and a $20 price target on August 3rd, and Craig Hallum began coverage with a Buy and a $19 target in July. Zacks upgraded the stock to Hold in late June, while Weiss Ratings holds a more cautious stance.

Despite the upbeat analyst outlook, Infleqtion fell short of Q2 earnings expectations, reporting a loss of $0.11 per share versus the consensus estimate of a $0.07 loss. Insider sales also raised eyebrows: approximately 4 million shares worth $64.8 million were sold by insiders over the past three months. On the institutional side, several funds added new positions in Q2, including S&G Foundation, which purchased shares at a cost of $154 million.