Intuitive Machines initiated with an Underperform at BofA on ‘frothy valuation’

As previously reported, BofA initiated coverage of Intuitive Machines (LUNR) with an Underperform rating and $16 price target The “frothy valuation” of the space services and technology provider based on “uncertain” revenue growth, coupled with a small array of customers and missions, leads the firm to see better opportunities to gain exposure to the commercial space market, the analyst tells investors.