Insights

Brokers name 3 ASX shares to sell

Brokers are feeling bearish about these ASX shares…
The post Brokers name 3 ASX shares to sell appeared first on The Motley Fool Australia. –

With many brokers taking a well-earned break over the holiday period, new broker notes are extremely limited.

In light of this, listed below are a few recent broker recommendations that are still very relevant today. Here’s are three ASX shares rated as sells:

Commonwealth Bank of Australia (ASX: CBA)

According to a note out of Macquarie, its analysts have retained their underperform rating and $86.00 price target on this banking giant’s shares. The note reveals that Macquarie has reduced its earnings estimates for the banking giant to reflect aggressive competition for home loans. It notes that this is weighing on margins. Macquarie has also increased its costs forecasts in response to Commonwealth Bank’s recent trading update. The CBA share price is trading at $101.54 this afternoon.

Mineral Resources Limited (ASX: MIN)

A note out of Morgan Stanley reveals that its analysts have retained their underweight rating and $38.70 price target on this mining and mining services company’s shares. The broker isn’t convinced with the company’s plan to investigate the development of a new iron ore export facility in Port Hedland with Hancock Prospecting and Roy Hill. Morgan Stanley appears concerned it could support increased supply and weigh on iron ore prices. The Mineral Resources share price is fetching $56.40 this afternoon.

Virtus Health Ltd (ASX: VRT)

Another note out of Morgan Stanley reveals that its analysts have retained their underweight rating and $6.50 price target on this fertility treatment company’s shares. While Morgans Stanley acknowledges that trading conditions have been better than it was expecting this year, it isn’t enough for a more positive recommendation. The broker continues to see Virtus Health’s shares as fully valued at the current level. The Virtus Health share price is trading at $6.78 this afternoon.

The post Brokers name 3 ASX shares to sell appeared first on The Motley Fool Australia.

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More reading

Here’s what this broker thinks of the CBA (ASX:CBA) share price

ASX 200 (ASX:XJO) midday update: CBA rises, Sandfire’s MATSA update

How does Westpac stack up against the CBA (ASX:CBA) share price?

Is this ASX sector gearing up for a year of M&A activity?

ASX 200 (ASX:XJO) midday update: CBA and Westpac rise, Afterpay tumbles again

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Virtus Health Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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