Positive price action presents imminent price targets for these 3 stocks

Pay attention to the following stocks approaching critical price targets: Bruker Corporation, Ternium S.A., Bristol-Myers Squibb Company are the ones to watch.

A recap of yesterday's session: Leading equity indices in the US rose as Nasdaq ended the session at 12,976 after a 2.19% gain. S&P 500 closed the day at 4,205.45, having gained 1.3%.

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. Check out this rundown of stocks and their price targets.

Buyers pushing Bruker towards its price target of $71.8; currently at $71.6

An influx of buyers helped the molecular and materials research enabler to end the session higher around $71.6, while establishing a $70.24 to $71.92 session range yesterday. Yesterday's gains are in contrast to Bruker's bearish trend (lasting 6 days) during which it lost $5 of its value. The day's trading volume totalled 746,424 shares — slightly under the 21-day average of 923,157.

Approximately a month ago, the molecular and materials research enabler reached a significant high of $84 but has struggled to hold onto its gains and declined 15.71% since then. Bruker is currently trading with a market cap of $10.51 billion with an average daily volume of 923,157 shares. So far this year, it has been under-performing the Nasdaq by 16.69%. Bruker's last revenue report was $685.3 million with an EPS of 64 cents.

It will be interesting to follow how Bruker's run now faces a challenge at $71.8, which is only 20 cents away.

Ternium recoils 13 cents from key resistance at $38.65

After testing beyond the $38.65 resistance level, Ternium price action is alternating above and below this key level.

Ternium is in the midst of a 7 day downtrend. a possible change of direction spotted from yesterday; after closing at $38.32 on Thursday, Ternium rallied as high as $38.82 but ended the day at $38.52. The day's trading volume totalled 107,773 shares — below the 21-day average of 277,328.

Bristol Myers Squibb now at $63.82 | Forthcoming price target: 8 cents lower at $63.74

After ending Thursday at $64.56, Bristol Myers Squibb dropped to $63.7 early in yesterday's session and closed at $63.82. In total, it lost 1.15%. Yesterday's 1.15% loss extends a 12 day bearish run in which Bristol Myers Squibb had already lost $4.52 from its share value. The day's trading volume totalled 5.51 million shares — below the 21-day average of 8.52 million.

The Fortune 500 pharma colossus has recovered 1.16% since descending to a significant low of $63.82 around a day ago. Currently, the pharmaceutical giant has a market capitalization of $134 billion with an average daily trading volume of 8.52 million shares. So far this year, it has been doing worse than the S&P 500 by 20.42%. Bristol Myers Squibb is forecasted to generate revenues of $11.49 billion and EPS of $2.05.

Bearish run for Bristol Myers Squibb is facing a possible turning point at $63.74, which is only 8 cents away. If this support line fails to hold, the next target will be at $63.66.