Leading brokers name 3 ASX shares to sell today

Leading brokers have named National Australia Bank Ltd (ASX:NAB) and these ASX shares as sells this week. Here’s why they are bearish…
The post Leading brokers name 3 ASX shares to sell today appeared first on Motley Fool Australia. –

stylised silhouette of a bear on financial graph background

On Monday I looked at three ASX shares that 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:

Evolution Mining Ltd (ASX: EVN)

According to a note out of Macquarie, its analysts have downgraded this gold miner’s shares to an underperform rating and cut the price target on them to $5.30. The broker believes that the US 10-year bond yield has now bottomed and expects the yield curve to continue to lift. In light of this, it has cut its medium term gold price forecasts meaningfully. This has led to earnings downgrades for Evolution and other gold miners. The Evolution share price is trading at $5.71 on Tuesday.

Goodman Group (ASX: GMG)

A note out of Goldman Sachs reveals that its analysts have retained their sell rating and $12.24 price target on this property company’s shares. The broker has been looking into the industry and continues to believe its shares are expensive in comparison to peers. It notes that Goodman is targeting earnings per share growth of 9% this year. After which, based on executive remuneration, the company is targeting 6% to 9% per annum growth over the medium term. It doesn’t believe this level of growth justifies the premium its shares trade at. The Goodman share price is changing hands for $18.72.

National Australia Bank Ltd (ASX: NAB)

Analysts at Morgan Stanley have downgraded this banking giant’s shares to an underweight rating with an improved price target of $20.10. While the broker expects dividends to start their recovery in 2021 and notes that NAB has a strong capital position, it sees downside risks to margins and loan growth forecasts. In light of this and its strong share price recovery, it has downgraded its shares today. The NAB share price is trading at $21.83 this afternoon.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of June 30th

More reading

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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

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!