Stifel upgrades Intuitive Machines (LUNR) to Buy from Hold, sees ~48% upside to $26 target despite price cut, citing backlog surge to $1.76 billion. The analyst firm lowered its price target from $32 to $26, but the new target still implies about 48% upside from the stock's $17.56 share price at the time of the call. This upgrade follows Intuitive Machines' report of a significant acceleration in new orders, with its backlog rising to $1.76 billion from $1.06 billion, an increase of approximately 66%. The company's second-quarter revenue also surged 310% year-over-year to roughly $206 million.