On Monday 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 that have just been given sell ratings are listed below. Here’s why these brokers are bearish on these ASX shares:
Aurizon Holdings Ltd (ASX: AZJ)
According to a note out of Morgan Stanley, its analysts have downgraded this rail freight operator’s shares to an underweight rating and cut the price target on them to $3.92. This is despite Aurizon delivering a full year result ahead of its expectations and its belief that its outlook is positive. The reason for Morgan Stanley’s bearish stance is the company’s exposure to fossil fuels. It fears this will weigh on the performance of its shares as many investors exclude it from investment mandates for ESG reasons. The Aurizon share price is trading at $3.99 today.
Bendigo and Adelaide Bank Ltd (ASX: BEN)
Another note out of Morgan Stanley reveals that its analysts have retained their underweight rating but increased their price target on this regional bank’s shares to $10.40. Although Morgan Stanley is expecting a strong result from the bank this month, it isn’t enough for a change of rating. It expects FY 2022 to be a tougher year and feels its shares are expensive at the current level. The Bendigo and Adelaide Bank share price is fetching $10.86 on Tuesday.
Macquarie Group Ltd (ASX: MQG)
Analysts at Citi have retained their sell rating and $140.00 price target on this investment bank’s shares. According to the note, the broker has been pleased with Macquarie’s performance this year and expects a strong profit in FY 2021. However, it has concerns over the sustainability of its earnings. As a result, it doesn’t see enough value in its shares at the current level to warrant a more positive rating. The Macquarie share price is trading at $159.07 today.
The post Leading brokers name 3 ASX shares to sell today appeared first on The Motley Fool Australia.
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More reading
- Why Aurizon, Brainchip, Ramelius, & Transurban shares are dropping
- Is now a good time to buy Bendigo and Adelaide Bank (ASX:BEN) shares?
- If you invested $1,000 in Macquarie (ASX:MQG) shares a decade ago, here’s what it would be worth now
- Aurizon Holdings (ASX:AZJ) share price wobbly on FY21 earnings
- ASX 200 Weekly Wrap: Blockbuster Afterpay deal turbocharges ASX to new record highs
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 Macquarie Group Limited. The Motley Fool Australia has recommended Aurizon Holdings Limited. 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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