Insights

Leading brokers name 3 ASX shares to sell today

Here’s why brokers are bearish on these ASX shares…
The post Leading brokers name 3 ASX shares to sell today appeared first on The Motley Fool Australia. –

Yesterday I looked at three ASX shares brokers have given buy ratings to this week.

Unfortunately, not all shares are in favour with them right now. Three that have just been given sell ratings are listed below. Here’s why these brokers are bearish on these ASX shares:

Coles Group Ltd (ASX: COL)

According to a note out of UBS, its analysts have retained their sell rating and $16.50 price target on this supermarket giant’s shares. Although Coles delivered a better than expected first quarter sales update, the broker believes the outlook for food sales in Australia is weakening. In light of this, UBS now has a negative view on the sector as a whole and not just Coles. The Coles share price is fetching $17.17 on Tuesday.

Commonwealth Bank of Australia (ASX: CBA)

A note out of Goldman Sachs reveals that its analysts have retained their sell rating and $84.40 price target on this banking giant’s shares. Goldman has been looking through recent data provided by APRA. And while CBA leads the major banks in both housing lending and retail deposits growth, it isn’t enough for a more positive rating. The broker has previously stated that it believes the CBA share price is severely overvalued at 21x estimated FY 2022 earnings. The CBA share price is trading at $105.26 today.

IGO Ltd (ASX: IGO)

Analysts at Morgan Stanley have retained their underweight rating and $8.25 price target on this battery materials mining company’s shares. This follows the release of its latest quarterly update. While that update revealed that the miner’s production is on target in FY 2022, its costs were higher than the broker was expecting. In light of this, Morgan Stanley isn’t in a hurry to change its rating and continues to believe IGO’s shares are overvalued at the current level. The IGO share price is fetching $9.19 this afternoon.

The post Leading brokers name 3 ASX shares to sell today appeared first on The Motley Fool Australia.

Should you invest $1,000 in CBA right now?

Before you consider CBA, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and CBA wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

Which ASX bank shares were the best performers during October?

It’s been a great 2021 so far for the CBA (ASX:CBA) share price

IGO (ASX:IGO) share price storms higher on Q1 update

Top brokers name 3 ASX shares to sell next week

Brokers rate these 2 ASX dividend shares as top buys today

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 owns shares of and has recommended COLESGROUP DEF SET. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!