Top brokers name 3 ASX shares to sell today

Brokers are bearish on these ASX shares…
The post Top brokers name 3 ASX shares to sell today appeared first on The Motley Fool Australia. –

On Wednesday, we looked at three ASX shares that brokers have given buy ratings to this week.

On the flip side, today we look at a few shares that have just been given sell ratings by brokers. Here’s why they are bearish on these ASX shares:


According to a note out of UBS, its analysts have retained their sell rating and cut their price target on this financial services company’s shares to 90 cents. The broker made the move after taking into account the company’s demerger plans. UBS isn’t positive on PrivateMarketsCo’s outlook nor that of the core AMP business. Overall, the broker doesn’t believe the demerger will unlock any near-term value for shareholders. The AMP share price is trading at 95 cents on Thursday afternoon.

GrainCorp Ltd (ASX: GNC)

A note out of Bell Potter reveals that its analysts have downgraded this grain exporter’s shares to a sell rating with a $6.15 price target. The broker believes GrainCorp will benefit greatly in FY 2022 due to two of the largest East coast crops and Northern hemisphere crop failures which have elevated canola crush and marketing returns. However, Bell Potter doesn’t expect this to last and is forecasting a ~50% decline in profits in FY 2023 when conditions normalise. In light of this, it feels is shares are overvalued at the current level. The GrainCorp share price is fetching $6.79 today.

Qantas Airways Limited (ASX: QAN)

Analysts at Credit Suisse have retained their underperform rating and $4.10 price target on this airline operator’s shares. The broker suspects that Qantas could now report a greater than expected loss in FY 2022 of ~$1.6 billion. This is due to the emergence of the omicron variant and the prospect of the international travel recovery being delayed. The Qantas share price is trading at $4.91 on Thursday.

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

Should you invest $1,000 in Qantas right now?

Before you consider Qantas, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Qantas wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

These 3 ASX 200 shares are topping the volume charts on Thursday

‘Phenomenal’ points auction fails to ignite Qantas (ASX:QAN) share price

ASX shares to buy for the Omicron COVID outbreak

Top brokers name 3 ASX shares to buy today

ASX 200 (ASX:XJO) midday update: ANZ hit with class action, GUD sinks

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.

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!