IonQ initiated with an Outperform at Northland

As previously reported, Northland analyst Nehal Chokshi initiated coverage of IonQ (IONQ) with an Outperform rating and $55 price target Quantum computing’s market potential could be between $100B and $250B, estimates the analyst, who believes technology execution risk is “far less on an industry level.” For that reason, the firm argues that investing across all quantum computing companies diversifies away the risk and assures participating in the “asymetrically positively skewed projected returns.” Among the five quantum names on which the analyst launched coverage, it has Outperform ratings on IonQ, Quantum Computing and Xanadu Quantum and assigns Market Perform ratings to D-Wave Quantum and Rigetti Computing.