Shares of Owens Corning (OC) plunged 5.05% in intraday trading on Thursday, as the building materials manufacturer faced a barrage of target price cuts from several prominent Wall Street analysts. The significant downward revision in price targets has sparked concerns among investors about the company's near-term growth prospects.

Leading financial institutions including Barclays, Wells Fargo, Truist Securities, and UBS all lowered their price targets for Owens Corning. Barclays made the most substantial cut, reducing its target from $173 to $131. Wells Fargo adjusted its target from $175 to $150, while Truist Securities lowered its projection from $135 to $120. UBS also joined the trend, trimming its target from $210 to $179.

These widespread downgrades suggest that analysts are becoming more cautious about Owens Corning's valuation and future performance. While the specific reasons behind each analyst's decision were not detailed in the news reports, such coordinated action often reflects concerns about industry trends, company-specific challenges, or broader economic factors affecting the building materials sector. Investors will likely be closely monitoring Owens Corning's upcoming financial reports and management commentary for further insights into the company's outlook.