Lube only ends up causing more problems than it fixes.  You are probably better off pulling the assembly apart and cleaning it properly with metho or window cleaner.

+1 to this advice, plus replace the coil sleeve.

I own a Solar Ride as well, the very same one i played on site over 25 years ago. Its a fun, easy to understand and challenging title, so its a definite keeper for me.

I must have been lucky with mine as i have never had a single issue with the drops the whole time i've had it.. almost 20 years!! I did restore the game about 10 years ago but still very little work was needed on the drop targets.