Canaccord lowered the firm’s price target on Intuitive Machines (LUNR) to $18.50 from $19 and keeps a Buy rating on the shares. The firm noted the company completed its $345M convertible debt offering at a $13.11/share conversion price and lowered its target to reflect potential future dilution from the offering.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LUNR:
- Intuitive Machines Completes $345M Convertible Notes Offering
- Intuitive Machines convertible offering ‘opportunistic,’ says Roth Capital
- Trump Trade: White House adds more goods subject to 50% steel tariff
- Rocket Lab, Intuitive beneficiaries of Trump EO, says Cantor Fitzgerald
- Closing Bell Movers: Coherent down 18% as earnings miss