Insights

Top brokers name 3 ASX shares to sell today

Top brokers have named Zip Co Ltd (ASX:Z1P) and these ASX shares as sells this week. Here’s why they are bearish…
The post Top brokers name 3 ASX shares to sell today appeared first on The Motley Fool Australia. –

stylised silhouette of a bear on financial graph background

On Wednesday 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 ASX shares that have just been given sell ratings by brokers are listed below. Here’s why these brokers are bearish on them:

Galaxy Resources Limited (ASX: GXY)

According to a note out of Morgan Stanley, its analysts have retained their underweight rating and $1.50 price target on this lithium miner’s shares. This follows Galaxy’s announcement that it plans to push ahead with the basic engineering phase of its James Bay project in North America. The results of the Preliminary Economic Assessment were in line with what the broker was expecting. As such, no changes have been made to its recommendation at this point. It holds firm with its underweight rating for valuation reasons. The Galaxy share price is fetching $2.31 this afternoon.

Treasury Wine Estates Ltd (ASX: TWE)

Analysts at Citi have retained their sell rating and $9.30 price target on this wine company’s shares following its update on its Americas strategy. While the broker sees a lot of positives on its premiumisation strategy in the region, it isn’t enough for a change in its rating. Especially given how its restructuring still has long way to go. The Treasury Wine share price is trading at $11.49 on Thursday.

Zip Co Ltd (ASX: Z1P)

A note out of UBS reveals that its analysts have downgraded this buy now pay later provider’s shares to a sell rating with an improved price target of $6.40. According to the note, the broker was pleased with its strong growth during the first half. It also appears to believe more of the same is coming in the near term. However, it does have concerns by rising bond yields. This is due to the impact they could have on funding and its valuation. The Zip share price is fetching $8.42 on Thursday 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 February 15th 2021

More reading

James Mickleboro owns shares of Galaxy Resources Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended Treasury Wine Estates Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Top brokers name 3 ASX shares to sell today appeared first on The 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!