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Top brokers name 3 ASX shares to sell next week

Top brokers have named Commonwealth Bank of Australia (ASX:CBA) 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:

A2 Milk Company Ltd (ASX: A2M)

According to a note out of Citi, its analysts have retained their sell rating and $14.20 price target on this infant formula and fresh milk company’s shares. The broker has been looking at the a2-only market in China and notes increasing competition from a local producer. It has concerns that if competitors price their a2-only products at lower levels to appeal to the mass market, it could damage the a2 Milk Company brand. The a2 Milk share price ended the week at $14.45.

Commonwealth Bank of Australia (ASX: CBA)

Analysts at Morgans have downgraded this banking giant’s shares to a reduce rating with a reduced price target of $63.00. The broker made the move following the release of Commonwealth Bank’s first quarter update. It notes that the bank’s net interest margin has been contracting due to the low interest rate environment and lower lending margins. This has led to the broker downgrading its earnings forecasts through to FY 2023. In light of this, it sees no reason to change its rating any time soon. The CBA share price last traded at $73.14.

InvoCare Limited (ASX: IVC)

A note out of the Macquarie equities desk reveals that its analysts have retained their underperform rating but increased the price target on this funerals company’s shares to $9.40. This follows the announcement of the acquisitions of two pet cremation businesses for $49.8 million. Although it sees this as a positive, it has concerns over market share losses by its core business and feels its valuation is stretched. The InvoCare share price was fetching $11.55 on Friday.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended A2 Milk. The Motley Fool Australia has recommended InvoCare Limited. 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.

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