Intuitive Machines (LUNR) Surges 11.7% on ‘Buy’ Reco

We recently published Santa Came Early for These 10 Double-Digit Gainers. Intuitive Machines Inc. (NASDAQ:LUNR) is one of the best performers on Monday.

Intuitive Machines extended its winning streak to a third straight day on Monday, jumping 11.71 percent to finish at $16.69 apiece as investors took heart from an investment firm’s “buy” recommendation for its stock.

In its initial coverage of the stock late last week, KeyBanc told investors to load up on shares of Intuitive Machines Inc. (NASDAQ:LUNR), at a price target of $14.94, over the latter’s leadership in the Lunar Terrain Vehicle and expectations of robust opportunities for lunar services in the space sector.

The price target marked a 19.8 percent upside potential from its latest closing price.

In other news, Intuitive Machines Inc. (NASDAQ:LUNR) earlier this month said that it entered into a strategic cooperation with Leonardo, an aerospace, defense, and security company, as well as Telespazio, a European space services firm, for the advancement of interoperable infrastructures and communications and navigation services in support of lunar exploration.

Under the agreement, the three firms would join forces to establish a framework to promote and enhance interoperability between their respective infrastructures: the Lunar Communication and Navigation System developed by Telespazio as part of the European Space Agency’s Moonlight program, and Intuitive Machines’ Space Data Network, which is used to manage NASA’s Near Space Network Services program.

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