Shares of Brinker International (EAT) plummeted 5.02% in intraday trading on Thursday, as multiple analysts lowered their price targets for the restaurant chain operator following its recent earnings report.

The stock's decline came amid a flurry of analyst actions, with several major firms adjusting their outlooks on Brinker. JPMorgan cut its price target to $155 from $175, while maintaining an Overweight rating. Wells Fargo reduced its target to $160 from $175, and Barclays lowered its target to $135 from $145. BMO Capital Markets made a significant reduction, cutting its price target to $140 from $170.

The wave of price target reductions suggests that Brinker's latest earnings report or forward guidance may have fallen short of analysts' expectations. While specific details of the earnings were not provided in the available news, the magnitude and consistency of the target cuts across multiple firms indicate a potentially disappointing financial performance or outlook for the company. Investors appear to be reacting to these analyst actions and any underlying concerns about Brinker's business prospects, leading to the sharp sell-off in the stock.