Wall Street Analyst Predicts 70% Upside for Quantum Computing Stock IonQ

Rosenblatt Securities analyst Kevin Garrigan has set a $70 price target for IonQ, representing a potential 70% gain from current levels. The quantum computing pure-play trades at $41.21 as of Wednesday's close, with its trapped ion architecture showing particular promise in the competitive quantum sector.

Unlike big tech competitors that fund quantum research through existing cash flows, IonQ relies on public markets and government contracts. This makes its technological achievements in error correction and qubit quality particularly noteworthy. The company's latest systems demonstrate improved coherence times and gate fidelities crucial for commercial viability.

Quantum computing stocks remain highly speculative, but IonQ's specialized approach and recent contract wins with the U.S. Air Force Research Laboratory suggest growing institutional validation. Market watchers note the sector could see increased attention as quantum supremacy milestones approach.