Clear Street Raises Intuitive Machines Price Target Following Lanteris Acquisition

Core Viewpoint - Clear Street has raised its price target on Intuitive Machines (NASDAQ: LUNR) to $25 from $17 while maintaining a Buy rating, reflecting the anticipated impact of the company's acquisition of Lanteris [1] Group 1: Acquisition Impact - The acquisition of Lanteris, expected to close by the second quarter of fiscal 2026, is projected to be accretive to both revenue and adjusted EBITDA, and has been incorporated into Clear Street's updated financial model [2] - The transaction is seen as creating a next-generation space prime with direct exposure to multi-billion-dollar space programs, aligning with the increasing U.S. investment in lunar exploration [2] Group 2: Financial Projections - Clear Street's new price target is based on a maintained valuation multiple of approximately 6x projected 2027 revenue of $1.045 billion for the combined Intuitive Machines and Lanteris business, up from a prior estimate of $452 million [4] - Expected dilution from the acquisition is reflected in the enterprise value [4] Group 3: Potential Catalysts - Several potential catalysts through 2026 have been identified, including announcements related to the Lunar Terrain Vehicle contract, the CLPS IM-5 mission, and increased opportunities for higher-margin prime contracts tied to Lanteris [3]