IonQ Jumps 4% on BoA Buy Rating; Rigetti and D-Wave Quantum Gain 2%

Bank of America just placed a bold bet on the largest pure-play quantum stock by revenue, and the ripple effect lifted the entire sector. Here is what the analyst sees that has other investors scrambling to reassess their positions.

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IonQ (NYSE:IONQ | IONQ Price Prediction) stock jumped 4% to $45.60 on Wednesday after Bank of America initiated coverage with a Buy rating and a $60 price target. Rigetti Computing (NASDAQ:RGTI) shares advanced 2% to $16.13, while D-Wave Quantum (NYSE:QBTS) stock also rose 2% to $16.84. The quantum computing group found support as investors digested the fresh analyst call on IonQ.

The Defiance Quantum ETF (NYSE ARCA:QTUM) gained 0.27% to $152.28. Broader markets moved higher, with the SPDR S&P 500 ETF Trust (NYSE ARCA:SPY) up 0.66% to $769.24. Attention centered on IonQ’s revenue trajectory, hardware deployments, and commercial roadmap even as losses and execution risks remained in focus.

Bank of America Starts IonQ at Buy

Bank of America highlighted IonQ as the largest public pure-play quantum company by revenue. The firm pointed to the company’s semiconductor-enabled path for scaling qubit counts along with broad customer engagement across quantum computing, communications, and sensing. Bank of America applied a blended enterprise-value-to-sales multiple to longer-term revenue projections that include both quantum hardware and foundry-related sales.