Top brokers have named ASX Ltd (ASX:ASX) 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 The 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:
Ainsworth Game Technology Limited (ASX: AGI)
According to a note out of UBS, its analysts have retained their sell rating but lifted their price target on this gaming technology company’s shares slightly to 35 cents. While UBS notes that its performance is improving, it suspects that its recovery could be prolonged. Particularly in the Latin American market, which has been hit hard by casino closures and operating restrictions. The Ainsworth Game Technology share price ended the week at 74 cents.
Air New Zealand Limited (ASX: AIZ)
A note out of Macquarie reveals that its analysts have retained their underperform rating and NZ$1.20 (A$1.11) price target on this airline operator’s shares. This follows news of a travel bubble between Australia and New Zealand opening up this month. While the broker expects there to be pent-up demand for people wanting to visit friends and family, it isn’t sure that business and leisure travellers will be as interested. This is due to the potential of being stranded should borders suddenly snap shut because of an outbreak. The Air New Zealand share price ended the week at A$1.70.
ASX Ltd (ASX: ASX)
Analysts at Goldman Sachs have retained their sell rating and $67.46 price target on this stock exchange operator’s shares. This follows the release of its activity data for the month of March. Goldman notes that futures trading continues to slide while cash market trading normalises. Overall, the broker continues to see earnings risks skewed slightly to the downside. As a result, it believes its shares are overvalued at the current level. The ASX share price was trading at $72.78 on Friday.
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.
*Returns as of February 15th 2021
- ASX 200 flat, Flight Centre drops, Air New Zealand rises
- Why the Air New Zealand (ASX:AIZ) share price is on watch
- NZ-Australia bubble opens! Qantas (ASX:QAN) shares take off
- Why the Webjet (ASX:WEB) share price closed 5% higher today
- Trans-Tasman Bubble: Does this mean take off for ASX listed airports?
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. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.