Bank of America Initiates IonQ (IONQ) at Buy With $60 Target as Quantum Stocks Retreat

Bank of America initiated coverage of IonQ (IONQ) with a "buy" rating and a $60 price target on Monday, Sept. 28, 2026, calling the quantum computing firm the largest publicly traded pure-play in the sector by revenue. IonQ shares traded down less than 1% at about $45 intraday, as the broader tech sector declined. The stock remains positive for the year but has fallen roughly 40% from its May highs. Analysts cited IonQ's scale, broad customer base and recent acquisitions that added nearer-term products and revenue, enterprise and sovereign customer relationships, and additional commercialization paths. Optimism around quantum computing's potential to solve complex problems beyond traditional computers has lifted sector stocks in recent years, aided by breakthroughs at Alphabet (GOOGL) and IBM (IBM) and investments from Nvidia (NVDA).