Intchains Group price target lowered to $7 from $11 at Benchmark

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