Infleqtion (INFQ) Stock Jumps 8% After Citi Raises Target and Reaffirms Buy Rating
TLDR
- Infleqtion stock rose 8.3% to $13.59 on Friday, with Citi raising its price target to $22 from $20 while reaffirming a Buy rating.
- The consensus analyst rating is “Moderate Buy” with an average price target of $20.60.
- Infleqtion missed its Q2 earnings estimate, reporting a loss of $0.11 per share vs. the expected $0.07 loss.
- Insiders sold roughly 4 million shares worth $64.8 million over the past three months.
- Several institutional investors added new positions in Q2, including S&G Foundation, which bought in at $154 million.
Infleqtion (INFQ) stock climbed 8.3% on Friday to close at $13.59, after Citi raised its price target on the quantum tech company to $22 from $20 and held its Buy rating.
The stock hit an intraday high of $13.61. Trading volume came in at around 4.6 million shares, which was down 52% from its average daily volume of 9.67 million.
Citi’s revised target signals the bank sees more upside ahead for Infleqtion. The reaffirmed Buy rating also tells investors the firm still views the stock as an attractive opportunity at current levels.
… Continue reading the full article at the original source below.
This content is automatically aggregated. Full credit goes to the original publisher (coincentral.com).
