Quantum computing firm IonQ Inc. (NYSE:IONQ) saw a price target hike from Benchmark after the company successfully raised $1 billion through an equity offering at $55.49 per share, a notable 25% premium to the closing price last Thursday.
What Happened: The equity offering is likely to bring IonQ’s pro-forma cash to an estimated $1.68 billion, accelerating the company’s commercialization efforts. Benchmark analyst David Williams has reiterated a Buy rating on IonQ shares and increased his price target from $50 to $55, expressing confidence in IonQ’s potential in the quantum computing market, reported Barrons.
