Insights

Top brokers name 3 ASX shares to sell next week

Top brokers have named Xero Limited (ASX:XRO) and these ASX shares as sells for next week. Here’s why they are bearish…
The post Top brokers name 3 ASX shares to sell next week appeared first on Motley Fool Australia. –

Once again, a large number of broker notes hit the wires last week. Some of these notes were positive and some were bearish.

Three sell ratings that caught my eye are summarised below. Here’s why top brokers think investors ought to sell these shares next week:

IGO Ltd (ASX: IGO)

According to a note out of Ord Minnett, its analysts have retained their sell rating and cut the price target on this nickel producer’s shares to $3.50. The broker isn’t a fan of IGO due largely to its belief that its assets are declining in quality. It also notes that the company’s outlook over the coming years is rather subdued. The IGO share price ended the week at $4.57.

Spark New Zealand Ltd (ASX: SPK)

Analysts at Goldman Sachs have retained their sell rating and $4.00 price target on this telco’s shares. Based on its outlook and current share price, Goldman believes that Spark is one of the most expensive incumbent telecommunication companies globally. In light of this, it sees no reason to buy its shares ahead of other more attractively priced peers. The Spark share price closed the week at $4.25.

Xero Limited (ASX: XRO)

A note out of UBS reveals that its analysts have retained their sell rating but lifted their price target on this business and accounting software platform provider’s shares to $72.00. According to the note, UBS believes there’s a lot to like about Xero. It notes that a recent survey shows that Xero is highly regarded by accountants and cloud accounting penetration growth remains solid. However, due to its valuation and concerns over higher than normal business closures because of the pandemic, the broker retains its sell rating. The Xero share price ended the week notably higher than this price target at $92.12.

These stocks could rocket in a Post-COVID world (FREE STOCK REPORT)

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.*

In this FREE STOCK REPORT, Scott just revealed what he believes are the 3 ASX stocks for the post COVID world that investors should buy right now while they still can. These stocks are trading at dirt-cheap prices and Scott thinks these could really go gangbusters as we move into ‘the new normal’.

Find out the names of our 3 Post COVID Stocks – For FREE!

*Returns as of 6/8/2020

More reading

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Xero. 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 Top brokers name 3 ASX shares to sell next week 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!