Benchmark analyst Mark Palmer lowered the firm’s price target on Intchains Group (ICG) 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.
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