Lamb Weston Holdings, Inc. (LW) experienced a significant pre-market plunge of 5.32% on Wednesday, as investors reacted to negative sentiment ahead of the company's third-quarter earnings release.

The frozen potato products maker is scheduled to report its quarterly results before the market opens, with analysts forecasting earnings per share of 61 cents on an adjusted basis, a sharp decline from $1.03 reported in the same period last year. This anticipated year-over-year drop in profitability has contributed to bearish pre-market trading.

Adding to the negative sentiment, several Wall Street analysts have recently cut their price targets for Lamb Weston shares. Deutsche Bank reduced its target from $46 to $40, JP Morgan lowered from $50 to $44, and Bank of America Securities slashed its target from $66 to $53, reflecting growing concerns about the company's near-term prospects ahead of the earnings announcement.