Shares of Intuitive Machines (LUNR) tumbled 5.02% in intraday trading on Friday, following a downward revision of the company's price target by Canaccord Genuity. The space exploration technology firm's stock came under pressure after the investment bank lowered its price target to $15.50 from $18.50.

Despite the significant cut in the price target, Canaccord maintained its 'Buy' rating on Intuitive Machines' shares. This suggests that while the bank sees potential headwinds affecting the company's near-term valuation, it still believes in the long-term prospects of the space technology provider.

The market's sharp reaction to the price target reduction highlights the sensitivity of growth stocks like Intuitive Machines to changes in analyst outlooks. Investors will be closely watching for any further developments or company announcements that might provide more context to Canaccord's decision and potentially influence the stock's trajectory in the coming trading sessions.