BUZZ-IonQ jumps after successful demo of key tech, pact with South Korea's SDT

Quantum computing company IonQ's IONQ.N shares jumped nearly 11% to $45.2 premarket after the company demonstrated an error decoder that helps in real-time correction of quantum computing errors, addressing a key challenge in keeping fragile systems reliable.

The company also announced a multiyear partnership with South Korean tech company SDT to deploy a quantum computer in South Korea. It did not disclose a deal value.

Eleven of 14 brokerages rate the stock "buy" or higher, and three rate it "hold"; their median price target is $65, according to SEG-compiled data.

Per last close, IONQ was down about 9% year to date and down about 43% over the last 12 months.