Market selloff delivers upcoming price targets for 3 stocks

Change of direction? Novartis, Brixmor Property Group Inc., International Paper Co, among others, are approaching price targets.

Friday's session summary: Leading equity indices in the US declined as Dow Jones shed 1.19% and closed at 31,862. S&P 500 closed at 3,916.64, a 1.1% change.

What is a Price Target?

A "price target" is an estimate of the future price of a stock based on earnings forecasts and assumed valuation multiples. Price targets are typically generated by respected market analysts who believe a stock to be fairly valued relative to its projected and historical earnings. Target prices are used to evaluate stocks and can help investors evaluate the potential risk/reward profile of a stock. Let's review some stocks and their price targets.

Though in the midst of a 3 day uptrend, gaining a total of 2.7%, ($2.75), the prevailing bullish trend is beginning to fade following Friday's downbeat session. During Friday's session, Novartis toiled and struggled for upward momentum before closing at $82.19. By the close, the the Swiss multinational pharmaceutical corporation suffered a 59 cents or 0.71% loss. Novartis's recent uptrend could be petering out after the company eclipsed its average daily volume of 1.78 million by 133% today.

Brixmor's bearish run has lasted 7 days so far (-$2.23). more of the same from Friday's session: during Friday's session, Brixmor toiled and struggled for upward momentum before closing at $20. By the close, the the US REIT suffered a 62 cents or 2.96% loss. Daily trading volume (4 million shares) was above the current multiday average of 2.43 million.

International Paper's bearish run has lasted 7 days so far (-$3.1). Friday's session continued down the same path: during Friday's session, International Paper toiled and struggled for upward momentum before closing at $34.06. By the close, the the world's largest pulp and paper company suffered a 61 cents or 1.76% loss. Daily trading volume (7.95 million shares) was above the current multiday average of 2.86 million.