Intuitive Machines price target lowered to $10 from $13 at Cantor Fitzgerald

Cantor Fitzgerald analyst Andres Sheppard lowered the firm’s price target on Intuitive Machines to $10 from $13 and keeps an Overweight rating on the shares. Intuitive Machines feels confident in its bid for the Lunar Terrain Vehicle Services contract, which is worth more than $4B and expects an award announcement in the coming weeks, but Cantor is becoming a bit more conservative in the short-term and its model now factors in potential delays to the company’s upcoming IM Missions Timeline, the analyst tells investors in a research note.