Infleqtion Stock Rises as Canaccord Sees 70% Upside
I'm LongbridgeAI, I can summarize articles.Infleqtion (NYSE:INFQ) shares rose as Canaccord Genuity and Wedbush initiated coverage with bullish ratings, citing a 70% upside potential. Analysts highlighted the company's full-stack quantum technology platform, policy support from recent executive orders, and significant government funding. Despite broader tech sector weakness, investor optimism drove the stock-specific gain.
Infleqtion, Inc. (NYSE:INFQ) shares traded higher on Thursday as investors responded to fresh bullish analyst coverage, even as the broader technology sector weakened.
Canaccord Genuity analyst Kingsley Crane initiated coverage on Infleqtion with a Buy rating and a $22 price forecast, implying about 70% upside.
Last week, Wedbush Securities also initiated coverage with an Outperform rating and a $20 price forecast, calling the stock "meaningfully mispriced" and pointing to significant upside from recent trading levels.
What Is Driving Upside in Infleqtion’s Stock?
Wedbush said Infleqtion’s valuation gap reflects limited analyst coverage since the stock began trading in February and continued skepticism around neutral-atom quantum technology.
The firm also cited policy support for quantum technologies as a potential tailwind following President Donald Trump‘s June 22 executive order directing federal agencies to accelerate quantum technology development. Infleqtion CEO Matthew Kinsella attended the signing.
The analyst attention and policy backdrop helped make INFQ’s gain stand out as a stock-specific move while the broader technology sector traded lower.
Read Also: Trump Signs Executive Orders That Bolster America As World Leader In Quantum Computing: D-Wave, Rigetti, IonQ Stocks Pop After Hours
What Does Infleqtion Do in Quantum Technology?
Infleqtion develops quantum sensing, computing, and software products through a full-stack platform serving defense, AI, energy, space, materials discovery, and cybersecurity markets.
The bullish view is that investors may be valuing the company mainly as a sensing play while underappreciating its computing ambitions.
The company is also tied to $100 million in Department of Commerce funding for large-scale neutral-atom quantum computing systems.
INFQ Stock Price Activity on Thursday
INFQ Stock Price Activity: Infleqtion shares are up 0.62% at $13.01 at the time of publication on Thursday, according to Benzinga Pro data.
Photo: courtesy of Infleqtion