After NASA awarded the $4.82B, 10-year Near Space Network, or NSN, contract to Intuitive Machines, Benchmark notes that the IDIQ contract has a base period of five years with an additional five-year option and believes Intuitive is also the only awardee for the IDIQ. With the $4B-plus NSN win to deploy lunar relay satellites and provide communication and navigation services that paly an essential role in NASA’s Artemis campaign, Intuitive has “established itself as the backbone of lunar data transmission,” the analyst tells investors. The NSN award provides significant backlog and long-term financial stability, “something many space peers lack,” and the company’s path to “becoming the preeminent lunar infrastructure player took a big step forward with NSN,” adds the analyst, who has a Buy rating and $10 price target on the shares, which are up $2.45, or 45%, to $7.85 in pre-market trading.
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