ICG PLC Reports Six-Month Block Listing with 63,554 Unallocated Shares Remaining

JPMorgan analyst Angeliki Bairaktari lowered the firm's price target on ICG to 2,707 GBp from 2,736 GBp and keeps an Overweight rating on the shares.

Benchmark analyst Mark Palmer lowered the firm's price target on Intchains Group to $4 from $7 and keeps a Buy rating on the shares. The company's Q2 revenue reflected softness in the digital asset market and management expects demand for its altcoin mining equipment to remain soft in the second half of 2025, the analyst tells investors in a research note. However, the firm believes Intchains continues to position itself for a rebound by accelerating investments in research and development for a new mining equipment launch.

Maxim lowered the firm's price target on Intchains Group to $7.50 from $8 and keeps a Buy rating on the shares. The firm cites the company's Q1 earnings miss due to an unrealized loss in the change in value of cryptocurrencies held, though revenue was boosted by strong demand for a new product launch targeting cryptocurrency Aleo, the analyst tells investors in a research note.

Benchmark lowered the firm's price target on Intchains Group to $7 from $11 and keeps a Buy rating on the shares. The Q1 report from Intchains yesterday demonstrated how the company's ability to quickly shift the focus of its in-house ASIC chip design platform to different altcoins enables it to respond to changing market dynamics, the analyst tells investors. Intchains was able to deliver a top-line beat versus the Street estimate despite the crypto industry having faced significant headwinds during the first few months of 2025 by promptly launching a new series of machines for mining Aleo, the native cryptocurrency of a Layer 1 blockchain designed to provide privacy-preserving applications using zero-knowledge proofs, the analyst noted.