LUNR 1Q Takeaways: On-Track for Next Moon Mission in 4Q, & Lanteris Acquisition Ramping Up. Reiterate OW, Raising Price Target - Cantor's Take

Research evidence excerpt

LUNR 1Q Takeaways: On-Track for Next Moon Mission in 4Q, & Lanteris Acquisition Ramping Up. Reiterate OW, Raising Price Target - Cantor's Take

Mobility

Intuitive Machines, Inc. (LUNR)

EQUITY RESEARCH Company Update

May 19, 2026

LUNR 1Q Takeaways: On-Track for Next Moon Mission Price: $33.59

Price Target: $43.00 (From $26.00) in 4Q, & Lanteris Acquisition Ramping Up. Reiterate

Rating: Overweight OW, Raising Price Target - Cantor's Take

Key Statistics:

Symbol NASDAQ: LUNR Our Thoughts - Cantor's Take: We remain bullish on LUNR after the

52-Week Range 7.78 - 38.55 company reaffirmed FY26 revenue guidance of $900M-1B, and positive adj.

Market Cap 7,299.3 EBITDA in FY26. More importantly, LUNR's management expects a contract

ADV (3 mo) 13,383,839 decision on the Lunar Terrain Vehicle (LTV) award by the end of this week

Shares Out (M) 160.5 and remains confident in winning the award. We view this as a material

near-term catalyst, and we expect LUNR to likely be a beneficiary, with

Research Analysts: potentially additional follow-on awards. Additionally, on its 1Q call, LUNR

Andres Sheppard, MBA reaffirmed that its upcoming mission to the moon (IM-3 Mission) is on track 212-428-5983

Andres.Sheppard@cantor.com for 2H26 (we expect 4Q26). More recently, LUNR announced it was selected

Anand Balaji, CFA, CPA by the U.S. Space Force’s Space Systems Command as 1 of 14 awardees

212-610-2446 under the Andromeda multi-year award. This is an IDIQ 10-year contract,

Anand.Balaji@cantor.com with an initial value of up to $1.84B and a potential total value of $6.24B.

Peter Clyne

212-915-1248 While the contract value will be spread across the 14 different awardees,

Peter.Clyne@cantor.com we view this as additional potential upside, which is currently not reflected

in our estimates.