Brokers aren’t feeling positive about these ASX shares…
The post Top brokers name 3 ASX shares to sell next week appeared first on The 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:
Afterpay Ltd (ASX: APT)
According to a note out of UBS, its analysts have retained their sell rating but lifted their price target on this payments company’s shares to $42.00. This follows news that Afterpay is offering US consumers a pay anywhere option at some of the country’s largest retailers such as Amazon and Nike. Combined, the 12 retailers account for almost half of all ecommerce volume in the US. UBS sees this as a positive move and has upgraded its sales estimates meaningfully to reflect this. Nevertheless, the broker still believes its shares are severely overvalued at the current level. The Afterpay share price was fetching $118.29 at Friday’s close.
银行及金融 - 澳洲联邦银行 (ASX: CBA)
A note out of Morgan Stanley reveals that its analysts have retained their underweight rating and $89.50 price target on this banking giant’s shares. According to the note, the broker expects the majority of the banks to outperform the ASX 200 over the next 12 months. This is due to their attractive valuations, positive outlook, and the continuing earnings upgrade cycle. However, this may not be the case for CBA. It feels Australia’s largest bank’s shares are overvalued at present. The Commonwealth Bank share price ended the week at $99.49.
Netwealth Group Ltd (ASX: NWL)
Analysts at Credit Suisse have downgraded this investment platform provider’s shares to an underperform rating but lifted the price target on them to $16.00. According to the note, the broker made the move on valuation grounds following a strong rise over the last few months. Outside this, the broker is a fan of the company and expects it to continue winning market share in the future. The Netwealth share price was fetching $16.25 at the end of the week.
Wondering where you should 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 could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.
*Returns as of May 24th 2021
The Afterpay (ASX:APT) share price is slipping today while the ASX 200 gains
ASX 200 up 0.25%: IDP Education rockets, Westpac hit with $87m bill
Got Zip (ASX:Z1P) shares? Here’s what the company has in store for FY22
3 blue chip shares that smashed the ASX 200 index in FY21
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. owns shares of and has recommended AFTERPAY T FPO and Netwealth. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO and Netwealth. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.