KeyBanc starts Intuitive at Overweight, sees meaningful near-term opportunities

KeyBanc initiated coverage of Intuitive Machines (LUNR) with an Overweight rating and $20 price target Lunar’s missions to date have been primarily one-off contracts to prove the viability of its offerings, but the firm sees meaningful near-term opportunities that could drive scalable growth and eventually recurring revenue via lunar services. The recent government shutdown likely led to the push-out of award timing, though KeyBanc believes the company is the front-runner in the impending Lunar Terrain Vehicle award, the analyst tells investors in a research note.