UniFirst Corporation (UNF) shares plummeted 5.15% in intraday trading on Thursday, following a series of price target cuts from multiple analysts. The significant drop comes in the wake of the company's recent fourth-quarter earnings report, which appears to have failed to impress Wall Street.

Several major financial institutions revised their outlook on UniFirst downward. Barclays analyst Manav Patnaik lowered the firm's price target on UniFirst to $145 from $152, while maintaining an Underweight rating on the shares. UBS cut its target price to $182 from $190, and JP Morgan reduced its price target to $160 from $175. These downgrades suggest that analysts are becoming more cautious about UniFirst's future performance.

The company recently released its Q4 earnings, which were described as "steady" for fiscal 2025. However, the market's reaction and the subsequent analyst downgrades indicate that investors may have been expecting more robust results or a more optimistic outlook. The combination of lukewarm earnings and multiple price target cuts appears to have triggered a selloff, leading to the sharp decline in UniFirst's stock price during the trading session.