Cantor trims Intuitive Machines target, sees attractive entry point

Cantor Fitzgerald analyst Andres Sheppard lowered the firm’s price target on Intuitive Machines (LUNR) to $13 from $15 and keeps an Overweight rating on the shares. Company images confirmed Athena landed on her side, which resulted in the shares trading down 70%, though Intuitive disclosed it was able to accelerate payload operations, the analyst tells investors in a research note. Cantor sees current share levels as an attractive entry point after the recent selloff. The majority of the company’s revenue does not come from launch missions, but rather from its space contracts, the firm points out. Cantor expects Intuitive to capture greater than 90% of revenue from its IM-2 Mission, and notes that management disclosed that it expects to capture the majority of the outstanding $15.8M final success payment.