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Intuitive Machines price target lowered to $22 from $26 at Canaccord

Canaccord analyst Austin Moeller lowered the firm’s price target on Intuitive Machines (LUNR) to $22 from $26 and keeps a Buy rating on the shares. The firm noted the company’s Athena Nova-C lander conducted an off-nominal landing at the Lunar South Pole as management indicated that the data they have collected from the lander thus far indicates that it is on the surface near the target landing site, but that the orientation of the spacecraft is currently unclear. Canaccord believes the selloff in the shares on this event is overdone as it already has the next two missions under contract with NASA.

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