Why Intuitive Machines Stock Rocketed 24% Skyward on Thursday

The stock of space exploration company Intuitive Machines (NASDAQ: LUNR) strongly defied gravity on Thursday. It closed the day more than 24% higher, thanks in no small part to news of a major price-target increase from an analyst. That move came mere days after the company delivered some of the best news it's ever reported.The raise was enacted by B. Riley's Mike Crawford, who now feels a fair value estimation for Intuitive Machines should be considerably higher. He raised his by 50%, to $12 per share from the previous $8, and maintained the existing buy recommendation. The new price target anticipates upside of 29% on the stock's most recent close.It isn't hard to be glowingly bullish on Intuitive Machines these days. On Tuesday, the company was selected by the National Aeronautics and Space Administration (NASA) as the sole business to establish a communications system between our planet and the moon.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool