IonQ price target lowered to $35 from $55 at DA Davidson

DA Davidson lowered the firm’s price target on IonQ (IONQ) to $35 from $55 and keeps a Neutral rating on the shares after its Q4 results. The firm continues to believe that as more computationally complex workloads arise in the near-to-medium term, quantum systems will have an increasingly larger role in how we tackle these problems but it also recognizes that the field is “still heavily constrained by limited applied research and external investment in the space”, the analyst tells investors in a research note.