Amentum Holdings Inc. (AMTM) saw its stock price plummet 5.96% during intraday trading on Wednesday. The sharp decline followed a series of analyst price target reductions that were announced earlier in the session.

Multiple financial institutions revised their outlook on the company, with Truist Securities cutting its price target to $35 from $42 while maintaining a Buy rating. RBC Capital Markets also reduced its target to $28 from $35, keeping a Sector Perform rating on the stock. These downward revisions in price targets contributed to negative sentiment among investors.

The analyst actions reflect changing expectations for Amentum Holdings' future performance, prompting a sell-off that drove the stock significantly lower during Wednesday's trading session.