Shares of Tic Solutions (TIC) plummeted 5.16% in pre-market trading on Friday, following a significant price target cut by UBS. The sharp decline comes as investors react to the lowered expectations for the company's stock performance.

UBS analyst Joshua Chan maintained a Hold rating on Tic Solutions but drastically reduced the price target from $15 to $11.50. This represents a 23.3% decrease in the expected value of the stock, signaling a more cautious outlook on the company's near-term prospects.

The substantial cut in the price target appears to have sparked a sell-off among investors, leading to the steep pre-market decline. As the market digests this new information, it remains to be seen how Tic Solutions will respond to the challenges implied by UBS's lowered expectations. Investors will likely be watching closely for any statements from the company or additional analyst opinions in the coming days.