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 I looked at three ASX shares 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:
Computershare Limited (ASX: CPU)
According to a note out of Citi, its analysts have retained their sell rating but lifted their price target on this share registry company’s shares to $15.80. This follows the release of Computershare’s annual general meeting update, which saw the company reaffirm its earnings per share growth guidance of 2%. Citi suspects the market may have been hoping for an upgrade. Outside this, the broker remains bearish and sees little to drive its shares higher in the near term. The Computershare share price is trading at $19.31 today.
Platinum资产管理 (ASX: PTM)
A note out of UBS reveals that its analysts have commenced coverage on this fund manager’s shares with a sell rating and $2.25 price target. The broker hasn’t been impressed with Platinum’s performance and notes that its funds under management have been stagnating. UBS also fears a recovery could be hindered by its uncompetitive fees. The Platinum share price is fetching $2.91 on Thursday afternoon.
Wesfarmers Ltd (ASX: WES)
Analysts at Citi have retained their sell rating but lifted their price target on this conglomerate’s shares to $50.00. This follows news that the company has signed an agreement to acquire Australian Pharmaceutical Industries Ltd (ASX: API). While the broker believes the deal will be a small boost to its earnings, it isn’t enough for a change of rating. Citi continues to believe that Wesfarmers’ shares are overvalued at the current level. The Wesfarmers share price is trading at $58.86 on Thursday.
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 August 16th 2021
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 owns shares of and has recommended Wesfarmers Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.