Intchains Group Ltd (ICG) PT Raised to $11 at Benchmark

Benchmark raised its price target on Intchains Group Ltd (NASDAQ: ICG) to $11.00 (from $10.00) while maintaining a Buy rating.

The analyst commented: " We are reiterating our Buy rating on ICG while raising our price target to $11 (from $10) based on 22x the company’s FY25E diluted EPS of $0.49. We believe the price of the company’s ADRs should appreciate as it executes to meet the increasing demand for its products driven by the revived crypto market."

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