Top brokers name 3 ASX shares to sell today

stylised silhouette of a bear on financial graph background

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:

Domino’s Pizza Enterprises Ltd (ASX: DMP)

According to a note out of Credit Suisse, its analysts have retained their underperform rating and cut their price target on this pizza chain operator’s shares to $77.73. This follows the release of a trading update which revealed a sudden deterioration in the company’s performance in the Japan market. The broker believes this highlights just how difficult it is to forecast post-COVID sales. In addition, Credit Suisse has concerns over the availability of workers and suspects it could impact the company. The Domino’s share price is trading at $117.34 this afternoon.

Magellan Financial Group Ltd (ASX: MFG)

A note out of UBS reveals that its analysts have retained their sell rating but lifted their price target on this fund manager’s shares slightly to $29.50. This follows the release of Magellan’s latest funds under management update. UBS continues to see risks to fund outflows and pressure on its fees. Particularly given the ongoing underperformance of its global fund. The Magellan share price is fetching $35.19 today.

Paradigm Biopharmaceuticals Ltd (ASX: PAR)

Analysts at Morgans have downgraded this biopharmaceutical company’s shares to a reduce rating with a $1.68 price target. The broker made the move largely on valuation grounds following a strong gain after the company was granted approval by the US FDA to undertake a major knee osteoarthritis major trial. In addition, Morgans has concerns that the trial may have been adjusted unfavourably in respect to marketability to gain approval from the regulator. The Paradigm share price is trading at $2.44 on Friday.

The post Top brokers name 3 ASX shares to sell today appeared first on The Motley Fool Australia.

Should you invest $1,000 in Magellan right now?

Before you consider Magellan, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Magellan wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

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 Dominos Pizza Enterprises Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

from The Motley Fool Australia https://ift.tt/3GPISGX

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s