Icon Energy price target lowered to $4.50 from $12 at Maxim

Maxim lowered the firm’s price target on Icon Energy (ICON) to $4.50 from $12 and keeps a Buy rating on the shares. The firm is adjusting its price target to reflect the company’s Q4 results and tariff uncertainty leading to lower TCE rates, the analyst tells investors in a research note. Icon also had more dilution than anticipated from the exercise of warrants at lower prices following a January 2025 equity offering, Maxim adds.