IonQ downgraded to Neutral at DA Davidson on increased risks

DA Davidson analyst Alexander Platt downgraded IonQ (IONQ) to Neutral from Buy with an unchanged price target of $35. IonQ continues to invest heavily for what the firm believes will be “the next big technological paradigm of this generation,” but risks associated with the business have notably increased given limited clarity relating to the roadmap and near-to-medium term profitability, says the analyst, who is moving to the sidelines based on “various moving pieces and limited visibility.”