SunOpta (STKL) stock plummeted 24.81% in Thursday's trading session, following a significant price target reduction by Mizuho analyst John Baumgartner. The analyst lowered the firm's price target on SunOpta from $10 to $8, while maintaining an Outperform rating on the shares.

The substantial cut in the price target appears to have sparked a sell-off among investors, leading to the sharp decline in SunOpta's stock price. The revised target of $8 suggests a more conservative outlook on the company's near-term prospects, despite the maintained Outperform rating.

While specific reasons for the price target reduction were not provided in the available news, such adjustments often reflect changes in a company's financial outlook, market conditions, or industry trends. Investors will likely be watching closely for any further analyst comments or company updates that might provide more context for this significant stock movement.