Yesterday we 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 that have just been given sell ratings are listed below. Here’s why these brokers are bearish on these ASX shares:
A2 Milk Company Ltd (ASX: A2M)
According to a note out of Macquarie, its analysts have retained their underperform rating but lifted their price target on this infant formula company’s shares to $5.60. While Macquarie acknowledges that A2 Milk performed better than it was expecting during the first half of FY 2022, it isn’t enough for a change of rating just yet. Particularly given that the company’s improved revenue outlook is largely being offset by higher marketing costs. The A2 Milk share price was trading at $5.70 on Tuesday.
Altium Limited (ASX: ALU)
Another note out of Macquarie reveals that its analysts have retained their underperform rating and cut their price target on this electronic design software company’s shares to $25.90. This follows the release of Altium’s half year results, which were better than Macquarie was anticipating. However, the broker expects the company’s growth to moderate in the second half. As a result, it isn’t in a rush to change its rating. The Altium share price was fetching $31.43 today.
Domino’s Pizza Enterprises Ltd (ASX: DMP)
Analysts at Credit Suisse have retained their underperform rating but increased their price target on this pizza chain operator’s shares to $89.24. The broker has lifted its valuation after upgrading its growth estimates for the coming years. However, even after these upgrades, Credit Suisse believes Domino’s shares are expensive on current multiples. The Domino’s share price was trading at $99.73 on Tuesday 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 over ten 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 January 12th 2022
More reading
- Is the Altium (ASX:ALU) share price in the buy zone following its results?
- ‘The sleeper has awakened’: Top broker gives its verdict on the A2 Milk (ASX:A2M) share price
- ASX 200 shares stage comeback amid Russia optimism
- Here are the top 10 ASX shares today
- These 3 ASX 200 shares are topping the volume charts this Monday
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 and has recommended Altium. The Motley Fool Australia has recommended A2 Milk and 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/Zg0x6iy
Leave a Reply