With many analysts taking a well-earned break over the holiday period, broker notes are few and far between currently.
In light of this, listed below are a few recent broker recommendations that are still very relevant today. Here’s are three ASX shares rated as sells:
AMP Ltd (ASX: AMP)
According to a note out of UBS, its analysts have retained their sell rating and trimmed their price target on this financial services company’s shares to 90 cents. UBS made the move to reflect AMP’s demerger plans. The broker isn’t positive on PrivateMarketsCo’s outlook, nor that of the core AMP business, and doesn’t believe the demerger will unlock near-term value for shareholders. The AMP share price ended the week at $1.00.
Commonwealth Bank of Australia (ASX: CBA)
A note out of Morgans reveals that its analysts have retained their reduce rating and $73.00 price target on this banking giant’s shares following a review of the banking sector. While Morgans is positive on the sector, it continues to believe the CBA share price is overvalued at the current level and sees better value on offer with other banks. Morgans has previously stated its belief that the premium CBA’s shares trade at to the other big banks is unjustifiably large. The CBA share price ended the week at $100.63
Magellan Financial Group Ltd (ASX: MFG)
Another note out of UBS reveals that its analysts have retained their sell rating and slashed their price target on this fund manager’s shares to $17.00. This follows news that Magellan has lost its biggest client, St James Place. UBS suspects there could be more mandate terminations in the future, as well as further net fund outflows. The broker feels this will put pressure on fund fees. The Magellan share price was fetching $21.21 at Friday’s close.
The post Leading brokers name 3 ASX shares to sell 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
- The stories that rocked the ASX 200 in 2021 revisited
- Top brokers name 3 ASX shares to sell next week
- These were the worst performing ASX 200 shares last week
- These were the best performing ASX 200 shares last week
- Here are the top 10 ASX shares today
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 no position in any of the stocks mentioned. 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/3sAlqZp
Leave a Reply