Jefferies initiated coverage of the quantum computing sector with a $100 price target on IonQ (IONQ) stock, implying a 110% upside. IonQ’s trapped-ion quantum computers are integrated with major cloud platforms for applications in various industries. Analysts expect IonQ to benefit from ecosystem tailwinds and technical advantages. The company delivered a stellar third quarter, surpassing revenue guidance and showcasing its platform strategy. IonQ’s ambitious roadmap aims for fault-tolerant quantum computing and significant growth by 2030. The stock price target for IONQ is $75.50, with analysts remaining bullish despite recent volatility.

Read more at Barchart: Jefferies Says IonQ Stock Can Double Over the Next 12 Months. Should You Buy It Here?