Canaccord notes that Intuitive Machines issued a press release confirming that its first Nova-C lunar lander is to be shipped to its launch site “in the coming days.” The firm continues to believe that a successful launch and landing on the lunar surface of the first NovaC lander, while only representing 10% of the total revenue recognized from the IM-1 mission contract from NASA, will likely be the next major positive catalyst for the stock. The Nova-C lunar lander for the IM-1 mission will be placed into orbit and into a translunar injection onboard a Falcon 9 rocket, which has a launch success rate in excess of 99%. In Canaccord’s view, the primary risks for the mission will be both the successful functioning of the spacecraft’s onboard propulsion system as it descends into a 100km circular lunar orbit and ultimately, a fully autonomous touchdown on the surface. The firm has a Buy rating on the shares with a price target of $14.
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