A Seeking Alpha analyst upgraded IonQ to a "speculative buy."
The upgrade cites the transformative potential of IonQ's pending acquisition of SkyWater Technology.
The cash-and-stock transaction is valued at approximately $1.8 billion.
The companies announced the deal in January 2026.
The transaction is expected to close in the second or third quarter.
The upgrade reflects the expected impact on IonQ's 2026 revenue and business profile.
The combined company could generate over $800 million for the fiscal year.
The acquisition transitions IonQ from a pure-play quantum computing firm to a vertically integrated company.
The new entity features substantial interests in the semiconductor and defense sectors.
This shift could alter how the market values the stock.