Canaccord lowered the firm’s price target on Intuitive Machines (LUNR) to $15.50 from $18.50 and keeps a Buy rating on the shares. The firm noted they announced the acquisition of Lanteris Space Systems from private equity for approximately $800M. Management expects the combined entity to generate revenues north of $850M on positive Adj. EBITDA, with $920M in backlog, once the transaction is finalized.
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