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:
A2 Milk Company Ltd (ASX: A2M)
According to a note out of Credit Suisse, its analysts have retained their underperform rating and $5.50 price target on this infant formula company’s shares. While it acknowledges that infant formula prices are stabilising, it isn’t enough for any changes to its rating. Particularly given its concerns over slowing birth rates in China and market share losses in stage 1 formula. The A2 Milk share price finished the week at $6.02.
Magellan Financial Group Ltd (ASX: MFG)
A note out of UBS reveals that its analysts have retained their sell rating and cut their price target on this fund manager’s shares to $29.00. This follows the release of another disappointing funds under management update, which revealed further fund outflows. The broker suspects this is being driven by the poor performance of its flagship Global Fund and fears that there could be further outflows to come. Particularly on the retail side due to its poor performance and high fees. The Magellan share price was trading at $33.90 at Friday’s close.
Unibail-Rodamco-Westfield CDI (ASX: URW)
Analysts at Ord Minnett have retained their sell rating and $4.00 price target on this shopping centre operator’s shares. While Ord Minnett notes that Unibail-Rodamco-Westfield’s shares have pulled back meaningfully in recent months. It still doesn’t see enough value in them to change its rating. Particularly given how it is yet to see proof that a rebound in trading conditions is taking place. As a result, it is holding firm with its sell rating for the time being. The Unibail-Rodamco-Westfield share price ended the week at $4.94 today.
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- Top brokers name 3 ASX shares to sell today
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- Here’s why these top brokers reckon the Magellan (ASX:MFG) share price is cheap
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 recommended A2 Milk. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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