Intuitive Machines initiated with an Equal Weight at Barclays

Barclays initiated coverage of Intuitive Machines (LUNR) with an Equal Weight rating and $13 price target The firm expects Intuitive to continue to benefit from NASA’s increasing reliance on commercial companies. The neutral rating reflects a positive view of the company’s various growth opportunities balanced by budget uncertainty along with a “crowded” competitive landscape, execution risk and a valuation that has shares trading roughly in line with peers, the analyst tells investors in a research note.