Roth MKM lowered the firm’s price target on Intuitive Machines to $12 from $20 but keeps a Buy rating on the shares. The company’s Q2 results saw “steady revenue” that showed annual growth, but the management withdrew revenue guidance for the remainder of 2023, reflecting U.S. budgetary uncertainty and the pushout of certain program wins, the analyst tells investors in a research note. The firm adds however that Intuitive Machines remains on-track for its initial moon mission launch mid-2023, and it expects a favorable outcome in the protest of its NASA OMES contact win.
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