Shares of Olin Corporation (OLN) plummeted 5.11% during intraday trading on Monday, as multiple analysts adjusted their price targets for the chemical manufacturing company. The significant drop comes amid growing concerns about the company's near-term prospects.

RBC Capital maintained its Sector Perform rating on Olin but lowered its price target from $28 to $25. Similarly, Truist Securities kept its Hold rating while reducing its target price from $25 to $24. These downward revisions in price targets suggest that analysts are becoming more cautious about Olin's future performance, which likely contributed to the sharp decline in the stock price.

According to FactSet data, the overall sentiment on Olin remains cautious, with an average rating of Hold among analysts. The mean price target now stands at $27.47, reflecting the recent adjustments. Investors appear to be reacting to these analyst actions, reassessing their positions in light of the potentially less optimistic outlook for the company. As the market digests these new projections, Olin's stock may continue to face pressure in the near term.