Infleqtion Stock Draws Second Buy Rating In A Week: Citi Sees Nearly 60% Upside In Quantum Play

• Citi initiated coverage of the stock with a Buy rating and a target price of $20 per share, implying a premium of about 60% over the last close.
• The company has rightly positioned itself to address future quantum applications.
• The partnership with Nvidia validates Infleqtion’s quantum approach for answering growing AI use cases.

Infleqtion, Inc. (INFQ) is likely to draw investor attention during Tuesday's trading hours, following three straight sessions in the green, thanks to yet another bullish initiation on Wall Street for the quantum computing firm.

Citi's Bet On INFQ

Citi analyst Atif Malik initiated coverage of Infleqtion with a 'Buy' rating and a $20 price target, implying roughly 59% upside from the last close, according to a summary of the note on The Fly. The core of Malik's thesis is that Infleqtion occupies a rare position in the quantum landscape: unlike most peers still in development, the company has already deployed its quantum technology into commercial applications and is generating revenue today.

Citi highlighted that quantum sensing, which includes precision instruments such as atomic clocks, currently accounts for about two-thirds of Infleqtion's revenue, with quantum computing making up the rest. That sensing business, Malik argued, provides a commercial foundation that allows the company to fund and advance its longer-term quantum computing ambitions as that market develops and scales.

The firm also pointed to Infleqtion's neutral atom technology as a key differentiator, noting that it underpins both the sensing and computing sides of the business and supports a full-stack product offering.

Looking further out, Citi sees a potential market opportunity of over $160 billion by 2040 across computing and sensing applications, spanning timing, navigation, gravity measurement, and RF detection.

Infleqtion's partnership with Nvidia featured prominently in the note. Malik described the relationship as a strong validation of the company's technology and software in current AI workloads, while also positioning it well for future AI and quantum applications. He considered stock a better bet than rival stocks.

BTIG Also Bullish On INFQ

Last week, BTIG also initiated coverage of the stock with a Buy rating and a $22 target price, as per The Fly. The firm noted that the quantum computing and sensing markets are valued at $130 billion and $30 billion, respectively. BTIG expects the company to be "a highly competitive computing platform available at a significant discount to less technically advanced peers."

Infleqtion’s NYSE Debut And Outlook

Infleqtion completed its New York Stock Exchange debut through a SPAC merger with Churchill Capital Corp X, raising about $550 million in gross proceeds and more than $125 million in additional private investment in public equity (PIPE) funding.

The company plans to expand sales of its quantum sensing products, including quantum clocks and RF antennas, while continuing to develop quantum computers toward commercial applications later this decade. Kinsella previously said the company believes quantum computers could begin delivering commercial advantages around 2028, particularly in areas such as materials science.

How Did Retail Feel About INFQ?

On Stocktwits, the retail sentiment surrounding the stock is ‘Extremely Bullish’ amid ‘High’ message volumes. The stock’s following on the platform has grown by nearly 5%, while message volume has surged by 125%.

However, Infleqtion shares are down about 20% year-to-date, underperforming the broader benchmark S&P 500 and Nasdaq indexes.

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