IONQ $IONQ coverage initiated at Rosenblatt, with a $70 price-target: "We are initiating coverage of IonQ (IONQ) with a Buy rating and $70 12-month price target. We believe IonQ provides an attractive way to gain exposure to the quantum computing market, a market that we see as the next era of computing. It is our view that the quantum computing market is setup to be a multiple winner market and not a winner takes all market. We have a high level of confidence that IonQ is well positioned to take its place among the winners, and unlike some early stage competitors, IonQ will be exiting 2025 with annualized revenues in excess of $100M, nearly doubling in 2026, and could well be on track for $1B in revenue over the next few years. We believe executing on the product roadmap, developing a quantum ecosystem to capture value in the nascent quantum networking, and increasing partnerships/system sales will drive stock price appreciation. Our 12-month price target of $70 equates to a 36.6x EV/S multiple on 2030 revenue discounted back."