Top brokers have named Webjet Limited (ASX:WEB) 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:
Computershare Limited (ASX: CPU)
According to a note out of Citi, its analysts have retained their sell rating and $12.00 price target on this stock transfer company’s shares. Citi believes that FY 2021 will be a tough year for the company due to the numerous headwinds it is facing. And while it does expect these headwinds to ease eventually, it fears it could be FY 2022 until there is an improvement in its performance. The Computershare share price ended the week at $12.29.
New Hope Corporation Limited (ASX: NHC)
A note out of the Macquarie equities desk reveals that its analysts have retained their underperform rating and cut the price target on this coal miner’s shares to 90 cents. Macquarie notes that New Hope delivered a weaker than expected FY 2020 result last week. Unfortunately, the broker doesn’t expect an improvement any time soon due to reducing production at New Acland and weak thermal coal prices. The New Hope share price last traded at $1.28.
Webjet Limited (ASX: WEB)
Analysts at Morgan Stanley have retained their underweight rating and cut the price target on this online travel agent’s shares to $3.00. According to the note, Morgan Stanley is expecting another sizeable loss from Webjet in FY 2021 due to its exposure to the struggling leisure air travel market. And although it expects the company to return to profit in FY 2022, it doesn’t see value in its shares at the current level. The Webjet share price was fetching $3.66 at Friday’s close.
These 3 stocks could be the next big movers in 2020
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.*
In this FREE STOCK REPORT, Scott just revealed what he believes are the 3 ASX stocks for the post COVID world that investors should buy right now while they still can. These stocks are trading at dirt-cheap prices and Scott thinks these could really go gangbusters as we move into ‘the new normal’.
*Returns as of 6/8/2020
- Is the Soul Patts (ASX:SOL) share price a buy?
- Top brokers name 3 ASX shares to sell today
- Why the Flight Centre (ASX:FLT) share price and Webjet (ASX:WEB) share price are taking off
- Why Kathmandu, New Hope, Recce, & Ramelius shares are dropping lower today
- ASX 200 falls 0.7%, UK and travel shares drop
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Webjet Ltd. 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.