Intuitive Machines (LUNR) stock surged 9.78% during Wednesday's intraday trading session, significantly outperforming broader market movements.
The sharp gain follows the company's announcement that it has been selected by the U.S. Space Force for the Andromeda Indefinite Delivery/Indefinite Quantity (IDIQ) contract. Under this agreement, Intuitive Machines will compete to design and deploy Space Domain Awareness capabilities, marking a strategic expansion of its business into the defense sector and fueling investor optimism about future revenue potential.
Adding to the positive sentiment, investment bank B. Riley raised its price target on Intuitive Machines to $40 from $25 while maintaining a Buy rating—a 60% upward revision. This analyst action reflects growing confidence in the company's positioning within the lunar economy and its pipeline of NASA-contracted missions, serving as a key catalyst for the sustained rally.
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