Top brokers have named Virgin Money UK CDI (ASX:VUK) 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. –
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:
BWP Trust (ASX: BWP)
According to a note out of UBS, its analysts have retained their sell rating and $3.86 price target on this Bunnings landlord’s shares. This follows the release of a half year result earlier this week that was a little softer than it was expecting. In addition to this, it has issues with its valuation and believes the market isn’t pricing in the risks it is facing. The BWP share price is currently fetching $4.11 on Thursday afternoon.
Platinum Asset Management Ltd (ASX: PTM)
A note out of Morgan Stanley reveals that its analysts have retained their underweight rating but lifted the price target on this fund manager’s shares to $3.20. According to the note, the broker believes that Platinum’s shares are overvalued considering the fund outflows it is experiencing. In December, the company experienced net outflows of approximately $149 million despite an improving performance. The Platinum share price is trading at $4.36.
Virgin Money UK CDI (ASX: VUK)
Analysts at Morgans have retained their reduce rating but lifted the price target on this UK based bank’s shares to $2.36 following its first quarter update. According to the note, the broker was pleased to see the company report low impairment charges during the quarter and reaffirm its guidance for FY 2021. Nevertheless, Morgans holds firm with its reduce rating and sees more value in some of the Australian banks. The Virgin Money UK share price is trading at $2.69 this 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.
*Returns as of June 30th
- Why AGL, Bubs, BWP, & Origin shares are dropping lower
- ASX 200 up 0.9%, Afterpay drops, CBA rises
- Why the Virgin Money UK (ASX:VUK) share price is surging 13% higher
- ASX 200 up 1.1%: Amcor jumps, South32 sinks, Virgin Money UK rockets
- Here’s why the BWP (ASX:BWP) share price is heading higher today
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.