Canaccord lowered the firm’s price target on Intuitive Machines to $14 from $16 and keeps a Buy rating on the shares. The firm noted the company completed a private placement with an insitutional investor and expects the wiggle room provided by the deal to support the company over the next 1-2 quarters as it awaits issuance of contract funding in the Q4/23- Q1/24 timeframe for several key programs.
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