Benchmark Maintains Buy Rating for IonQ: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Benchmark has maintained its Buy rating for IonQ (NYSE:IONQ) and increased its price target from $8.00 to $17.00. IonQ's shares are currently trading up 7.68% at $14.59 per share. IonQ sells access to quantum computers and derives its revenue from quantum-computing-as-a-service arrangements, consulting services, and contracts associated with the design and development of quantum computing systems.
July 17, 2023 | 5:01 pm
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Benchmark's maintained Buy rating and increased price target for IonQ could potentially boost investor confidence and drive the stock price up in the short term.
Analyst ratings and price targets can significantly influence investor sentiment and stock prices. In this case, Benchmark's decision to maintain a Buy rating and increase the price target for IonQ indicates a positive outlook for the company, which could potentially lead to an increase in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100