Intuitive Machines (LUNR) Climbs 37.7% on Bullish Coverage, PT Upgrade

We recently published 10 Firms in the Limelight. Intuitive Machines Inc. (NASDAQ:LUNR) is one of the best performers on Friday.

Intuitive Machines rallied for a second day on Friday, soaring 37.70 percent to close at $14.94 apiece as investors took heart from a bullish rating and price target from an investment firm.

In its initial coverage of the stock, Keybanc issued a “buy” recommendation and $20 price target on Intuitive Machines Inc. (NASDAQ:LUNR). The figure marked a 34 percent upside potential from its latest closing price.

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According to the investment firm, its coverage reflected Intuitive Machines Inc.’s (NASDAQ:LUNR) leadership in Lunar Terrain Vehicle and robust opportunities for lunar services in the space sector.

At present, Intuitive Machines Inc. (NASDAQ:LUNR) holds nearly $1 billion in backlog.

In the third quarter of the year, the company narrowed its net loss attributable to shareholders by 87.7 percent to $7 million from $55.5 million in the same period last year.

Total revenues declined by 10 percent to $52.4 million from $58.4 million year-on-year.

While we acknowledge the risk and potential of LUNR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than LUNR and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.