Top brokers name 3 ASX shares to sell next week

Brokers aren’t feeling very positive about these shares…
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 investors might want to hear about are summarised below. Here’s why top brokers think investors ought to sell these shares next week:

Commonwealth Bank of Australia (ASX: CBA)

According to a note out of Macquarie, its analysts have retained their underperform rating $86.00 price target on this banking giant’s shares. Macquarie has reduced its earnings estimates for Australia’s largest bank to reflect heightened competition for home loans, which is weighing on margins. It has also increased its costs forecasts in response to Commonwealth Bank’s recent trading update. The CBA share price was trading at $99.12 at Friday’s close.


A note out of Morgan Stanley reveals that its analysts have retained their underweight rating and $9.70 price target on this mining company’s shares. This follows news that IGO has signed an agreement to acquire Western Areas (ASX: WSA). Morgan Stanley appears to believe IGO may not be getting value for money with the deal and management will have a lot of work to do with development projects to justify the price paid. The IGO share price ended the week at $10.91.

Qantas Airways Limited (ASX: QAN)

Analysts at Credit Suisse have retained their underperform rating but lifted their price target on this airline operator’s shares to $4.60. This follows the release of Qantas’ first half guidance, which was well short of expectations. And while Qantas’ net debt was better than Credit Suisse was expecting, it isn’t enough for a change of rating. The broker still doesn’t see enough value in Qantas’ shares to recommend it as a buy. The Qantas share price ended the week at $4.78.

The post Top brokers name 3 ASX shares to sell next week appeared first on The Motley Fool Australia.

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More reading

What’s happening with the CBA (ASX:CBA) share price this week?

Brokers name 3 ASX shares to buy today

Could Qantas (ASX:QAN) shares prove to be a compelling investment in 2022?

Why Chorus, CSL, Qantas, and Sims shares are dropping

Qantas (ASX:QAN) share price descends on $1.1bn half year loss guidance

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 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.

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