A top Wall Street research firm said Infleqtion Inc (NYSE:INFQ) is “meaningfully mispriced” and is betting the quantum computing stock has more room to run.
Wedbush Securities initiated coverage of INFQ on Friday with an Outperform rating and a $20 price target, implying roughly 25% upside from current levels.
Analysts Antoine Legault and Matt Bryson called Infleqtion the only publicly traded neutral-atom pure-play and the only company commercializing the full quantum stack — computing, sensing, and software — from a single technology core.
Why The Discount Exists — And Why Wedbush Thinks It Fades
Despite holding the second-largest revenue base in the public quantum group, INFQ ranks sixth in valuation.
Wedbush pinned the gap on three factors it expects to unwind: neutral atoms are still seen as less proven than rival approaches; the market may be treating INFQ as a sensing-only company and undervaluing its compute ambitions; and the stock has only traded since February, leaving it thinly covered and less liquid than peers.
“With no consensus on an eventual modality winner, we view INFQ as one of the most compelling ways to gain exposure to the category,” Wedbush analysts wrote.
A Policy Tailwind That Arrived This Week
The initiation lands at a charged moment for the sector.
President Donald Trump signed an executive order on June 22 directing federal agencies to accelerate quantum technologies across national security, commercial, and scientific applications, with Infleqtion CEO Matthew Kinsella attending the White House signing.
Infleqtion was among the government beneficiaries, receiving $100 million in Department of Commerce funding to develop engineering systems for large-scale neutral-atom quantum computers. Wedbush specifically flagged a provision directing the fielding of at least three quantum sensor projects by September 2028.
Infleqtion posted Q1 2026 revenue of $9.5 million, up 14% year over year, and reaffirmed full-year guidance of at least $40 million.
Price Action: Since listing in February, INFQ shares have lost about 10% of their value. The stock was up 3.6% at $13.26 in pre-market trading on Friday.
Image via Shutterstock
Login to comment