On Monday I looked at three ASX shares that 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 them:

ASX Ltd (ASX: ASX)

A note out of the Macquarie equities desk reveals that its analysts have retained their underperform rating and lifted the price target on this stock exchange operator’s shares to $71.50. This follows the release of its April update last week. Although Macquarie notes strong average daily volume growth and a sharp increase in capital raisings during the second half, it still feels its shares are overvalued at the current level. It estimates that ASX Ltd’s shares are changing hands at 31x estimated full year earnings. Its shares are trading at $83.00 this afternoon.

Cochlear Limited (ASX: COH)

According to a note out of Goldman Sachs, its analysts have retained their sell rating and $156.00 price target on this hearing solutions company’s shares following its recent trading update. That update revealed that Cochlear’s sales were down 60% in April because of a sharp reduction in elective surgeries during the pandemic. And although there has been a recovery in elective surgeries now, the broker isn’t overly confident on the trajectory of the recovery. It suspects it may take longer than the market expects and therefore holds firm with its sell rating. Cochlear’s shares are changing hands for $187.98 on Tuesday.

Domain Holdings Australia Ltd (ASX: DHG)

Analysts at Morgans have retained their reduce rating and $2.25 price target on this property listings company’s shares. According to the note, the broker expects a sharp decline in listing volumes in the fourth quarter of FY 2020 and further declines in the first two quarters of FY 2021. In light of this, it has reduced its revenue forecasts accordingly. Domain’s shares are trading at $2.93 this afternoon.

More reading

• ASX 200 sinks 1.3%: Big four banks drag ASX lower & Altium issues sales warning
• These 10 ASX 200 shares have fallen the most over the last year
• Carsales share price down 26% since February. Is it now a good buy?
• These were the top 10 ASX 200 shares over the last year
• Brokers may be upgrading this ASX stock even as it delivered a plunge in profits

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Cochlear Ltd. The Motley Fool Australia has recommended Cochlear Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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

from Motley Fool Australia https://ift.tt/2LmdCUs

ASX dividend shares have had a rollercoaster ride in 2020. Some of the highest paying income shares have been smashed as coronavirus concerns have taken hold.

However, that doesn’t mean there aren’t good buying opportunities on the market. Here are 3 ASX dividend kings I think are worth buying and holding forever.

3 ASX dividend shares to buy and hold forever

There are still plenty of uncertain times ahead. No one knows just what the economy will look like by the end of the year, let alone 10 years into the future. As such, I think some defensive exposure in your portfolio could come in very handy.

I like the look of Coles Group Ltd (ASX: COL) shares at the moment. Coles looks to be a top ASX dividend share given its non-cyclical earnings and 2.78% dividend yield. Of course, dividend yields aren’t necessarily stable or reliable at the moment. Still, that doesn’t change the fact that Coles’ earnings are likely to be more stable than most of its ASX 200 peers.

Another ASX dividend share I believe to be in the buy zone is BHP Group Ltd (ASX: BHP). At the time of writing, BHP shares are paying an attractive 6.75%, now that the share price has fallen 18.94% lower in 2020. The mining sector could be vulnerable to the impact of COVID-19 as international trade slows down and demand for iron ore subsides.

However, I think the technical environment isn’t too bad. China’s economy is picking up pace again and the Australian Government could look to infrastructure to kickstart our own economy. On top of that, the Aussie dollar has slumped lower in 2020 which could make exports like iron ore more attractive.

My final ASX dividend share to buy and hold forever is Commonwealth Bank of Australia (ASX: CBA). ASX bank shares are under pressure at the moment with significant impairments and soft earnings. However, CBA remains an important pillar of the Aussie economy and I think it will continue to churn out consistent profits in years to come.

Bank dividend cuts have spooked some investors, but given CBA shares are down 24.73% in 2020, I think they could be a long-term bargain buy right now.

More reading

• UBS picks the real ASX winners from the COVID-19 grocery boom
• ASX 200 sinks 1.3%: Big four banks drag ASX lower & Altium issues sales warning
• 3 safe and strong ASX dividend shares to buy today
• 3 cheap ASX 200 shares for value investors
• These 3 ASX 200 retail shares are absolutely thriving right now

Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of COLESGROUP DEF SET. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post 3 ASX dividend kings to buy and hold forever appeared first on Motley Fool Australia.

from Motley Fool Australia https://ift.tt/2WFPUHO