Intuitive Machines Stock Surges Over 12% After Cantor Fitzgerald Upgrade
Intuitive Machines (NASDAQ: LUNR) stock surged more than 12% in late morning trading, driven by an upgrade from Cantor Fitzgerald analyst Andres Sheppard. The firm reiterated its overweight rating and $32 price target for the company following recent developments including a satellite delivery to SiriusXM via Intuitive’s newly acquired subsidiary Lanteris. Intuitive Machines has positioned itself as SiriusXM's largest satellite supplier after acquiring Lanteris in an $800 million deal. The firm also secured a contract with L3Harris Technologies for missile defense satellites under the U.S. Space Force, signaling potential growth opportunities beyond its current contracts. Despite not yet being profitable and burning cash, analysts expect Intuitive Machines to generate positive free cash flow next year. The stock currently trades at around 2-4x sales, a valuation range where space stocks are considered more attractive by some investors.
Topics: analyst upgrade Cantor Fitzgerald Intuitive Machines satellite contracts