Intuitive Machines Inc. (LUNR) PT Lowered to $22 at Canaccord Genuity

Canaccord Genuity analyst Austin Moeller lowered the price target on Intuitive Machines Inc. (NASDAQ: LUNR) to $22.00 (from $26.00) while maintaining a Buy rating.

The analyst commented: "There is no doubt that LUNR will need to demonstrate a vertical touchdown during IM-3 in Q1/26, but it already has the next two missions under contract with NASA. Firefly’s Blue Ghost lander successfully conducted a soft landing earlier this week at its Sea of Crises landing site. However, we would note that it was an easier landing site with more reliable direct communications to Earth by being at a higher longitude (landing at the South Pole is harder) on the Moon’s North-Northeast quadrant. The Athena is on the surface at its Mons Mouton landing site (outside the 50-meter target circle). IM-3 has a target landing site at Reiner Gamma in the Ocean of Storms (the Western region of the Lunar Near Side). We do think that the selloff in the stock today is overdone, particularly if most of the customer payloads on the mission are able to collect the data being sought (which is why they paid to be taken there). We are maintaining our Buy rating and lowering our PT to $22, which is based on a 6.6x EV/Revenue multiple on our 2025 estimates, until we get better visibility into the total milestone payments collected during IM-2."

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