Movement Alert|Infleqtion Rises 8.25% in Regular Trading, Wedbush Initiates Coverage With Outperform Rating and $20 Target

Market Focus06-26 22:34

On June 26, Infleqtion rose 8.25% in regular trading, trading at $14.07/share, with turnover of $104 million. The rally was driven by Wedbush Securities initiating coverage of the stock with an Outperform rating and a $20 price target, implying approximately 44% upside from current levels.

Wedbush highlighted that Infleqtion carries the second-largest revenue base among publicly traded quantum computing companies but is valued only sixth overall, representing what the firm called a significant mispricing. The analyst noted the company's unique position as the only publicly traded neutral-atom pure-play spanning computing, sensing, and software from a single technology core. Key catalysts cited include a proposed $100 million Department of Commerce CHIPS investment and a recent executive order directing the deployment of quantum sensors.

The initiation follows Citigroup's earlier coverage launch in April with a Buy rating and an identical $20 price target. The company has also recently secured government contracts, including a $2 million DARPA award and a $1 million US Navy contract for quantum-inspired machine learning software.

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