Intuitive Machines price target raised to $45 from $40 at B. Riley

B. Riley raised the firm’s price target on Intuitive Machines (LUNR) to $45 from $40 and keeps a Buy rating on the shares. Intuitive Machines reported Q1 results that beat revenue and EBITDA expectations but came in below broader consensus on the top line, while significantly strengthening its growth outlook through a backlog surge to $1.06B and a strong book-to-bill ratio, with management pointing to multiple near-term NASA and defense-related contract awards that could further expand backlog and support higher valuation assumptions, the analyst tells investors in a research note.