Bank of America Initiated Coverage of IonQ Stock

The bank set a 12-month price target of $60 per share for the quantum computing firm.

Updated on Sept. 28, 2026 in Quantum Computing

Bank of America Initiated Coverage of IonQ Stock

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Bank of America initiated coverage of IonQ with a Buy rating on September 28, 2026. The firm set a 12-month price target of $60 per share, reflecting a projected 31.93% gain for the company.

Why it matters

Analysts currently favor IonQ for its broad customer engagement and progress in scaling qubit counts. The company is actively pursuing expansion into quantum sensing, security, and space services to diversify its revenue streams.

IonQ utilizes semiconductors to scale its qubit count and recently deployed its Superion 256 quantum computer at the Nvidia Accelerated Quantum Research Center. The stock closed at $45.48 per share on September 28, 2026.

The players

IonQ

This quantum computing company focuses on developing systems that utilize trapped ion technology to solve complex problems.

Bank of America

This multinational investment bank and financial services company provides comprehensive market analysis and equity research.

Nvidia

This technology company designs graphics processing units and supports an Accelerated Quantum Research Center for industry collaboration.

Rosenblatt Securities

This financial services firm provides institutional research and analysis focused on the technology and semiconductor sectors.

The details

IonQ is leveraging strategic acquisitions to scale its capabilities in networking, foundry services, and quantum hardware. Despite a 2.76% decline year-to-date, the stock saw significant momentum late in September as Wall Street consensus targets suggest a potential 56.11% rally.

September 2, 2026: IonQ deployed the Superion 256 system at Nvidia's research center.
September 9, 2026: Rosenblatt Securities issued a $100 price target for IonQ.
September 28, 2026: Bank of America officially initiated coverage of the stock.

The Tech Race

The adoption of the Superion 256 quantum computer signals a shift toward practical enterprise-grade quantum hardware integration. This development underscores the ongoing race to replace traditional computing limits with scalable, semiconductor-based quantum architectures.

For investors, this coverage provides a new baseline for evaluating IonQ within a broader portfolio of emerging technology stocks. Retail participants should note that the stock remains volatile, having seen significant price swings leading up to the analyst initiation.

The takeaway

Quantum companies are increasingly focusing on vertical integration through hardware and service acquisitions to drive long-term value. Investors should monitor how these scaling efforts correlate with broader analyst price targets over the coming year.