KBR - Intuitive Machines rated Overweight in new coverage at Cantor Fitzgerald
2023-05-19 09:31:32 ET
Intuitive Machines ( NASDAQ: LUNR ) on Friday was rated Overweight in new research coverage by analysts at Cantor Fitzgerald. They said the space exploration company has a “disruptive business model and first-mover advantage” starting with its first unmanned mission to the moon.
“Intuitive Machines ( LUNR ) can provide investors who have a long-term investment horizon, and who are comfortable taking on volatility, with an opportunity to invest in the space race, as the industry is moving to become more privatized,” Andres Sheppard, analyst at Cantor Fitzgerald, said in a May 19 report.
The firm set a price target of $11 a share for Intuitive Machines’ ( LUNR ) stock, based on a combination of enterprise value-to-revenue and enterprise value-to-EBITDA multiples.
“Intuitive Machines ( LUNR ) plans to lay critical infrastructure at the moon and commercialize it,” according to Cantor Fitzgerald. “The first step is to land people and payloads on the moon, and the second step is to establish a secure communications network and power infrastructure on the moon.”
The company is poised to benefit from the National Aeronautics and Space Administration’s push to land astronauts on the moon by 2025 and establish a powered, habitable base camp by the late 2020s, the initiation report said. The space agency is spending about $93 billion by 2025 on the Artemis program, whose first mission last year sent a spacecraft around the moon and back to Earth.
NASA last month awarded a five-year contract valued at as much as $719 million to a joint venture between Intuitive Machines ( LUNR ) and engineering company KBR ( KBR ) for support services including the Joint Polar Satellite System for weather prediction. Intuitive Machines ( LUNR ) this year became a public company through a merger with a special-purpose acquisition company (SPAC).
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Intuitive Machines rated Overweight in new coverage at Cantor Fitzgerald