Quantum co IonQ climbs as BofA joins bull camp 

By Reuters News

** Quantum computing firm IonQ's IONQ.N shares up 3.7% at $47.18 in early trading on Mon and poised for sixth straight session of gains after BofA Global Research starts coverage with 'buy'

** Brokerage sets PT at $60, implying 32% upside to stock's close on Fri

** BofA analyst Vivek Arya says in a note IonQ is the largest public pure-play quantum co by revenue, supported by its "semiconductor-enabled path to scaling qubit count, broad customer
engagement and exposure across quantum computing, communications and sensing"

** Co's next-gen Superion 256 system will be the first to use electronic qubit control (EQC) tech on silicon, Arya says, adding that's a significant architecture shift that could support substantial logical-qubit scaling

** Arya says recently closed SkyWater acquisition adds an operating merchant-foundry business while bringing process development, wafer fabrication and advanced packaging in-house

** 12 of 15 brokerages covering IONQ rate the stock "strong buy" or "buy", 3 "hold"; median PT $65, per LSEG data

** With the advance, stock up ~5% YTD but ~44% below its 52-week intraday high of $84.64 hit on Oct 13

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