Leading brokers name 3 ASX shares to sell today

Business man marking Sell on board and underlining it

With most analysts still taking time off over the holiday period, broker notes are extremely limited right now.

But never fear! Listed below are a few recent broker recommendations that remain very relevant today. Here are three ASX shares rated as sells:


According to a note out of UBS, its analysts have put a sell rating and 90 cents price target on this financial services company’s shares. UBS isn’t overly positive on AMP’s demerger plans. It notes that the PrivateMarketsCo business has been experiencing revenue and margin weakness and doesn’t appear to believe things will improve in the short term. In addition, UBS feels the core business will be reliant on cutting its costs to support its growth. The AMP share price is trading at $1.01 on Wednesday afternoon.

Insurance Australia Group Ltd (ASX: IAG)

A note out of Morgan Stanley reveals that its analysts have an underweight rating and $3.75 price target on this insurance giant’s shares. The broker highlights a number of factors the company is facing that it fears could weigh on its performance. These include reinsurance renewal and reform risks, market share losses, and margin weakness. The IAG share price is fetching $4.37 on Thursday.

Woolworths Group Ltd (ASX: WOW)

Another note out of UBS reveals that its analysts have a sell rating and $35.00 price target on this retail giant’s shares. This follows the release of a trading update which revealed that COVID-related costs are impacting its earnings. And while these costs will soon ease, the broker has concerns about the impact food costs and its investment in online shopping will continue to have on margins. Another headwind UBS thinks investors should be aware of is the lack of population growth. The Woolworths share price is trading at $37.89 this afternoon.

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

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

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 owns and has recommended Insurance Australia Group 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/3EPpHuE

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