Canaccord analyst Austin Moeller raised the price target on Intuitive Machines Inc. (NASDAQ: LUNR) to $24.00 (from $22.50) while maintaining a Buy rating.

The analyst comments "The company provided updates on new contract awards and progression of key company initiatives. Perhaps most notably, Intuitive Machines completed its acquisitions of both Lanteris Space Systems and KinetiX recently. The combined entity looks to expand upon Intuitive Machines’ legacy operations into new capabilities like deep space navigation and constellation management, in addition to becoming a (more) vertically integrated prime contractor for commercialized satellite programs. Management talked about the company’s growing backlog and opportunity pipeline, including recent contract announcements for SDA’s Proliferated Warfighter Space Architecture (PWSA) Tranche 3 Tracking Layer and MDA’s SHIELD IDIQ contracting vehicle for future Golden Dome task orders. In Q1/26, the Lanteris-built EchoStar XXV GEO spacecraft was launched onto orbit and completed final system checks, joining a fleet of over 100 spacecraft. Management mentioned that all OBBBA funds must be obligated to vendors by September 2025, so the expectation is that programs experiencing contracting delays will be funded by the end of Q3. This should support contract timing for Golden Dome. However, management indicated that they are “going to Washington” to discuss the 6-month pushout in LTV contract awards due to the mission profile changes for Artemis III and IV. Management noted that vendors are seeking stopgap funding to continue work during the gap period."