The Benchmark Company initiated coverage on IonQ. It assigned a "Buy" rating and a $60 price target.
This action is part of a broader restart of coverage on the quantum computing sector. The firm also initiated "Buy" ratings for competitors Rigetti Computing and D-Wave Quantum.
Benchmark analyst Gary Mobley expressed a bullish outlook on the sector. He noted it is not a "winner-takes-all" market.
The firm suggests investors take a portfolio approach to the emerging industry.
Mobley views 2025 and 2026 as pivotal years for quantum computing. He expects the industry to transition from experiments to early enterprise-scale production during this period.