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August results season is mayhem for investors.

There are so many different companies to follow. So many numbers to crunch. And so many decisions to make about your ASX shares.

There’s no doubt it can be overwhelming. That’s why even the veterans may miss something.

Fortunately, a couple of experts offered up an ASX stock each that retail investors might have missed.

They’re both businesses that delivered in their 2021 financial year results, and have nice prospects for the future.

Record results, record profit, record dividend

Temple & Webster Group Ltd (ASX: TPW) certainly is the market darling as the online disruptor in the furniture retail sector.

That’s why investors might have missed that old-timer Nick Scali Limited (ASX: NCK) delivered a pretty amazing report last month.

“This one has certainly delivered a record result and record profit, record dividend,” 1851 Capital chief investment officer Chris Stott told a Livewire video. “And it flew well under the radar from a share price perspective — it’s fairly flat.”

Indeed he is right. Nick Scali shares have only risen 1.3% in the past month.

According to Stott, the furniture vendor is “one of the best retailers in the country”.

“The outlook we think is as good as we’ve ever seen for Nick Scali,” he said. “Anthony Scali is running the business and has done this for well over 20 or 30 years.”

The company has expressed interest in acquiring rival retailer Plush, which Stott considers a tailwind.

“If they do, it would be earnings accretive going forward. So we think there’s certainly scope for M&A activity, as well as earnings to surprise on the upside in our opinion,” he said. 

“We think that’s a buy.”

Nick Scali shares are up more than 26% this year, and 47.9% over the last 12 months.

ASX share to buy if you don’t mind coal

Market Matters portfolio manager James Gerrish admits coal is on the nose with investors these days.

But he does like the look of one producer.

“I’m probably going to get shot by viewers here, but Whitehaven Coal Ltd (ASX: WHC),” he said. “Their result, while operationally and financially 2021 wasn’t great, it’s looking good for 2022.”

Whitehaven shares have had a great run already. This year the price is up a whopping 71%, while the stock has rocketed 234% higher over the past 12 months.

For Gerrish, the best part of its August results was the progress in wiping out debt.

“They say if coal prices stay where they are, they’ll be debt-free by the second half of ’22, which I think is a really strong outcome,” he said.

“It reminds me of Fortescue Metals Group Limited (ASX: FMG) when they had debt problems and then they got a really strong commodity price tailwind. So Whitehaven Coal is a stock to buy from me.”

Whitehaven shares flew high on Friday, gaining 6.8%.

The post 2 ASX shares you missed that had cracking results appeared first on The Motley Fool Australia.

More reading

• These were the best performing ASX 200 shares last week
• Here are the 3 most traded ASX 200 shares on Thursday
• The Whitehaven Coal (ASX:WHC) share price is up 20% in the last week
• 2 leading ASX dividend shares to consider for income
• Whitehaven (ASX:WHC) share price rebounds 5% on earnings

Motley Fool contributor Tony Yoo owns shares of Temple & Webster Group Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Temple & Webster Group Ltd. The Motley Fool Australia has recommended Temple & Webster Group Ltd. 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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The WiseTech Global Ltd (ASX: WTC) share price could be one to watch this morning.

This follows news that its CEO is planning to sell shares.

Why is the WiseTech share price on watch?

Investors may want to keep an eye on the WiseTech share price after its Founder and CEO, Richard White, revealed that he is resuming his share sell down.

According to the release, last week Mr White sold a total of 107,971 shares for an average of $47.79 per share. This equates to a total consideration of $5,159,934.

However, this is unlikely to be the final sale that the CEO makes. The release explains that these share sales are part of a trading program which commenced on 30 August and will continue until 31 December. This is subject to no material, non-public information arising during this period.

It is also worth noting that this sale has barely made a dent in Mr White’s overall holding. Following the sale, he has a direct interest of 6,057,904 shares and an indirect interest of 125,825,861 shares.

In fact, the release notes that upon completion of the trading program, Mr White is expected to retain voting control of approximately 43.3% of WiseTech shares. This compares to 44% prior to its commencement.

What did the CEO say?

Mr White highlights that he remains WiseTech’s largest shareholder and is committed to WiseTech as its Founder and CEO. He also intends to remain a substantial, long-term shareholder.

Mr White said: “WiseTech has an exciting future ahead of it and I remain as committed and as driven as ever. The vision I have for the company remains clear. To that end we are gaining momentum in our market penetration and in positioning CargoWise as the leading execution software and moving closer to our goal of being the operating system for global logistics. It is pleasing to see interest from a range of investors wanting to be part of the WiseTech growth journey, which is why enhancing liquidity in our stock in a way that benefits all investors, big and small, is important.”

The WiseTech share price is up 61% in 2021.

The post Why the WiseTech (ASX:WTC) share price is on watch today appeared first on The Motley Fool Australia.

More reading

• Here’s a look at how ASX WAAAX shares compare on growth
• The WiseTech Global (ASX:WTC) share price is up 5% in the last week
• These ASX 200 dividend shares increased their payouts this earnings season
• These were the best ASX All Ordinaries performers in August
• This ASX 200 share delivered the highest share price gains this earnings season

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 shares of and has recommended WiseTech Global. The Motley Fool Australia owns shares of and has recommended WiseTech Global. 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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A number of ASX shares will be on watch today after S&P Dow Jones Indices announced changes to the S&P/ASX Indices.

These will be effective prior to the open of trading on 20 September, as a result of the September quarterly review.

ASX 50 index

Sleep treatment company ResMed Inc (ASX: RMD) and gaming company Tabcorp Holdings Limited (ASX: TAH) shares will be added to the ASX 50 index later this month. They will be replacing struggling infant formula company A2 Milk Company Ltd (ASX: A2M), energy company AGL Energy Limited (ASX: AGL) and fuel retailer Ampol Ltd (ASX: ALD).

There is an additional removal from the ASX 50 index due to the recent Woolworths Group Limited (ASX: WOW) demerger of Endeavour Group Limited (ASX: EDV).

ASX 100 index

UK bank Virgin Money UK (ASX: VUK) will be joining the ASX 100 index. This will be at the expense of building products company Boral Limited (ASX: BLD) and energy producer Beach Energy Ltd (ASX: BPT).

Once again, there is an additional removal to reflect the addition of Endeavour to the index following its demerger from Woolworths during the last quarter.

ASX 200 index

There will be four new additions to the benchmark ASX 200 index on 20 September. Joining the index are Lifestyle Communities Limited (ASX: LIC), Pinnacle Investment Management Group Ltd (ASX: PNI), Sealink Travel Group Ltd (ASX: SLK), and Tyro Payments Ltd (ASX: TYR).

Being dumped from the index later this month are G8 Education Ltd (ASX: GEM), NRW Holdings Limited (ASX: NWH), Nuix Ltd (ASX: NXL), and Westgold Resources Ltd (ASX: WGX).

What now?

The shares being added to indices could be given a boost between now and 20 September. This is due to index funds that track certain indices being required to purchase those shares.

In addition, some fund managers have strict mandates allowing them to only buy shares from certain indices. This could allow them to buy some of these shares at last.

Conversely, the shares being removed from indices could come under pressure today for the opposite reasons.

The post ASX quarterly rebalance: A2 Milk dumped from ASX 50, Nuix kicked out of ASX 200 appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Monday
• 2 ASX shares that may be worth looking at this weekend
• How to turn $20,000 into $475,000 in 10 years with ASX shares
• These were the best performing ASX 200 shares last week
• These were the worst performing ASX 200 shares last week

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 shares of and has recommended PINNACLE FPO and Tyro Payments. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Nuix Pty Ltd and ResMed. The Motley Fool Australia owns shares of and has recommended PINNACLE FPO. The Motley Fool Australia has recommended A2 Milk and ResMed Inc. 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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On Friday the S&P/ASX 200 Index (ASX: XJO) finished the week on a positive note. The benchmark index rose to 0.5% to 7,522.9 points.

Will the market be able to build on this on Monday? Here are five things to watch:

ASX 200 expected to fall

The Australian share market looks set to fall on Monday. According to the latest SPI futures, the ASX 200 is expected to open the day 23 points or 0.3% lower this morning. This follows a largely disappointing end to the week on Wall Street, which saw the Dow Jones fall 0.2%, the S&P 500 edge lower, and the Nasdaq push 0.2% higher. Weak economic data in the US put pressure on stocks.

Oil prices fall

Energy producers including Santos Ltd (ASX: STO) and Woodside Petroleum Limited (ASX: WPL) could have a tough start to the week after oil prices dropped on Friday night. According to Bloomberg, the WTI crude oil price is down 1% to US$69.29 a barrel and the Brent crude oil price has fallen 0.6% to US$72.61 a barrel.

Fortescue shares go ex-dividend

The Fortescue Metals Group Limited (ASX: FMG) share price is likely to fall deep into the red on Monday when it trades ex-dividend. The iron ore giant is paying shareholders a fully franked $2.11 per share of 30 September. This is the equivalent of a 10% dividend yield, so expect a double digit decline for Fortescue’s shares this morning.

Gold price storms higher

Australian gold miners such as Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NST) could have a strong start to the week after the gold price stormed higher on Friday night. According to CNBC, the spot gold price rose 1.2% to US$1,833.7 an ounce. Weak US economic data eased tapering fears and boosted the gold price.

Quarterly rebalance

After the market close on Friday, S&P Dow Jones Indices announced changes to the ASX 200 at the next rebalance. According to the release, G8 Education Ltd (ASX: GEM) and Nuix Ltd (ASX: NXL) are two of four shares being dumped out of the ASX 200 on 20 September. Lifestyle Communities Limited (ASX: LIC) and Tyro Payments Ltd (ASX: TYR) are among the four shares replacing them in the illustrious index.

The post 5 things to watch on the ASX 200 on Monday appeared first on The Motley Fool Australia.

More reading

• ASX quarterly rebalance: A2 Milk dumped from ASX 50, Nuix kicked out of ASX 200
• Top brokers name 3 ASX shares to sell next week
• 2 ASX shares that may be worth looking at this weekend
• These were the best performing ASX 200 shares last week
• These were the worst performing ASX 200 shares last week

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 shares of and has recommended Tyro Payments. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Nuix Pty Ltd. 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.

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The Appen Ltd (ASX: APX) share price has dropped a lot this year. Is it a cheap opportunity?

Appen has seen its shares fall 16% in a month, 33.4% in six months and 59% since the start of 2021. The Appen share price has sunk 71% from October 2020.

Appen’s latest result

Investors often use profit and/or the outlook to determine what price to value Appen at.

In the ASX tech share’s FY21 half-year result, it said that group revenue fell 2% to $196.6 million because of lower global services revenue because global customers allocated resources to new, non-advertising projects in the first half of 2021.

There were growth in some parts of the business. Global product revenue increased 15.2% to $22.3 million, as global customers invested in new AI use cases supported by Appen’s annotation platform and tools. New markets revenue was $47.8 million, an increase of 31.5%, driven by China, new enterprise customer wins customer wins and product-led growth. China FY21 half-year revenue was almost six times bigger than the first half of FY20.

The gross profit margin declined because of the customer and project mix, as large legacy project volume growth slowed and early stage projects commenced.

Appen said that its annual contract value (ACV) was $119.6 million, an increase of 16%.

But, underlying earnings before interest, tax, depreciation and amortisation (EBITDA) fell 14.3% to $27.7 million. Management attributed this to higher costs related to growth investments.

Underlying net profit after tax (NPAT) fell 35% to $12.5 million. Appen said that there was increased amortisation associated with investment in product development. Statutory net profit, which includes restructuring and acquisition costs, fell 55.1% to $6.7 million.

Outlook and Quadrent acquisition

As mentioned, the outlook can have an impact on the Appen share price.

After the acquisition of Quadrant, Appen reduced its EBITDA guidance range by $2 million to $81 million to $88 million. EBITDA is expected to be at the low end of that range because of ad-related project impacts.

Year to date revenue plus orders in hand for delivery in FY21 is approximately $360 million as at August 2021.

Quadrant was described by Appen as a global leader in mobile location and point of interest data. Management said the acquisition expanded the breadth of Appen’s data capabilities and product offering for existing customers and opens new growth opportunities in the global location intelligence market.

Is the Appen share price a buy?

The broker Macquarie Group Ltd (ASX: MQG) thinks not, with a neutral rating and a price target of $11.80. Macquarie feels that Appen’s management are too hopeful about expectations. It was one of the first brokers to have a negative outlook on Appen a while ago.

But Citi thinks Appen is a buy with a price target of $18.80. That represents a potential rise of almost 80% over the next 12 months. The broker likes its new projects as well as the acquisition of Quadrant.

On Citi’s numbers, Appen shares are valued at 21x FY22’s estimated earnings.

The post Is the Appen (ASX:APX) share price a cheap buy? appeared first on The Motley Fool Australia.

More reading

• 3 ASX shares with strong growth potential
• Here’s a look at how ASX WAAAX shares compare on growth
• 3 fantastic ASX shares that could be buys
• Which ASX shares are leading the way on the ASX 300 today?
• ASX 200 Weekly Wrap: A mixed bag of earnings dominates ASX

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Appen Ltd. The Motley Fool Australia owns shares of and has recommended Appen Ltd and Macquarie Group 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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The Transurban Group (ASX: TCL) share price has been underperforming the market in 2021.

Since the start of the year, the toll road operator’s shares have risen 4.5% to $14.32.

This compares to a gain of 12.5% by the S&P/ASX 200 Index (ASX: XJO).

Is the Transurban share price good value?

One leading broker believes the Transurban share price is good value at the current level.

According to a note out of Macquarie, its analysts have retained their outperform rating but trimmed their price target slightly to $14.66.

However, given that the Transurban share price is currently trading at $14.32, the upside potential is reasonably limited.

Nevertheless, Transurban could be a good option for income investors on the search for dividends that could grow in the coming years.

The note reveals that the broker is forecasting dividends per share of 42.3 cents in FY 2022 and then 64.3 cents in FY 2023.

Based on the current Transurban share price, this equates to yields of 3% and 4.5%, respectively, over the next two financial years.

What did the broker say?

Macquarie has revised its earnings forecasts lower to reflect a lengthier than previously expected lockdown. However, it continues to believe that traffic volumes will bounce back quickly once the reopening takes place.

And while it sees downside risk to dividends per share if the reopening takes even longer and also if the company needs to raise capital for its WestConnex acquisition, it believes it is worth sticking with the company.

This is due to Transurban’s pipeline of growth projects and the long term benefits of the aforementioned acquisition.

Macquarie isn’t alone with its bullish view on the Transurban share price. Last month Ord Minnett put a buy rating and $15.50 price target on its shares. It remains positive due to the strong demand for infrastructure assets.

It commented: “We believe the market value of Transurban’s assets remains well ahead of the implied value.”

“We believe this supports the underlying thesis on Transurban and is more important than the short-term impact lockdowns are having on traffic and free cash flow,” it added.

The post Top broker says Transurban (ASX:TCL) share price is a buy appeared first on The Motley Fool Australia.

More reading

• Transurban (ASX:TCL) share price wobbles as CEO calls for road-user reforms
• 2 top ASX dividend shares rated as buys this month
• The Transurban (ASX:TCL) share price gained 6% in 3 weeks. Here’s why
• ASX 200 Weekly Wrap: A mixed bag of earnings dominates ASX
• 2 buy-rated ASX dividend shares for income investors

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.

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If you’re looking to add some tech shares to your portfolio, then you may want to look at the shares listed below.

They have recently been rated as buys. Here’s why these ASX tech shares could be top options for growth-focused investors:

Adore Beauty Group Limited (ASX: ABY)

The first ASX tech share to look at is Adore Beauty. Australia’s leading online beauty retailer has been growing strongly in recent years thanks to the structural shift online which accelerated during the pandemic. Pleasingly, it looks well-placed to continue this positive form in the coming years. This is thanks to market growth and increasing online penetration rates.

Management notes that the beauty and personal care (BPC) market in Australia is worth $11.2 billion and is expected to grow at a 26% CAGR through to 2024. It also highlights that online sales comprise just 11.4% of the BPC market at present.

UBS currently has a buy rating and $6.00 price target on the company’s shares. This compares to the latest Adore Beauty share price of $4.95.

Xero Limited (ASX: XRO)

Another top ASX tech share to look at is Xero. This cloud-based accounting and business platform provider has been growing at a stellar rate in recent years. This has been driven by its very successful evolution into a full-service solution and the ongoing shift to the cloud.

Positively, despite the company now having 2.74 million subscribers, it is still only scratching at the surface of its global market opportunity. Management estimates that its total addressable market is currently 45 million subscribers.

Goldman Sachs is very positive on Xero’s future. It currently has a buy rating and $165.00 price target on its shares. This compares to the latest Xero share price of $151.01.

The post 2 excellent ASX tech shares rated as buys appeared first on The Motley Fool Australia.

More reading

• Here’s a look at how ASX WAAAX shares compare on growth
• 3 growing small cap ASX shares named as buys
• August was a great month for the Xero (ASX:XRO) share price
• Top brokers name 3 ASX small cap shares to buy
• 2 online ASX shares expecting big things

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 shares of and has recommended Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended Adore Beauty Group Limited. The Motley Fool Australia owns shares of and has recommended Xero. 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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If you’re in the process of building an income portfolio, then you might want to look at the shares listed below.

Here’s why these ASX dividend shares could be worth considering right now:

Adairs Ltd (ASX: ADH)

The first ASX dividend share to look at is this leading retailer of homewares and home furnishings.

Thanks to a favourable redirection in consumer spending during the pandemic and the booming housing market, Adairs has been growing very strongly over the last 18 months.

This led to the company releasing one of the strongest results during reporting season last month.

For example, Adairs reported a 28.5% increase in sales to $499.8 million and the almost doubling of its EBIT to $109.1 million. This was underpinned by strong same store and online sales growth.

According to a note out of Morgans, its analysts expect the company to be in a position to pay a 22 cents per share fully franked dividend in FY 2022.

Based on the current Adairs share price of $3.92, this will mean a yield of 5.5%.

National Storage REIT (ASX: NSR)

Another dividend share to look at is this leading self-storage operator.

It has been growing strongly over the last decade thanks to solid demand and its growth through acquisition strategy. And while it now has a portfolio of over 210 centres, management still sees plenty of scope to grow its network in a fragmented industry.

National Storage was also on form in FY 2021. It recently released its full year results and revealed a 28% increase in underlying earnings to $86.5 million.

This allowed the company to pay a full year distribution of 8.2 cents per share.

Another solid year is expected in FY 2022, with management guiding to underlying earnings per share growth of at least 10%. It also highlights that it has ~$900 million of investment capacity to support its acquisition strategy.

Based on the current National Storage share price of $2.40, if its distribution grows at the same rate as its earnings to 9.02 cents per share, it will provide a yield of 3.8%.

The post 2 ASX dividend shares with attractive yields appeared first on The Motley Fool Australia.

More reading

• Leading broker says Adairs (ASX:ADH) share price is a buy
• 2 ASX dividend shares that could be buys in September 2021
• 2 buy-rated ASX dividend shares with big fully franked yields
• 2 top ASX dividend shares with attractive yields
• 2 excellent ASX dividend shares analysts rate as buys

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 recommended ADAIRS FPO. The Motley Fool Australia owns shares of and has recommended ADAIRS FPO. 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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The Australia and New Zealand Banking Group Limited (ASX: ANZ) share price has had a great year thus far.

Since the start of 2021, shares in the banking giant have soared more than 22%.

In comparison, the  S&P/ASX 200 Index (ASX: XJO) has lifted 14% higher for 2021.

It’s not very common to see the share price of a big bank like ANZ outperforming the broader index. So, what is the outlook for the ANZ share price?

Analysts mixed on outlook

Despite its stellar performance so far this year, analysts are mixed on the outlook for the bank’s share price.

An expert flagged in The Australian recently that big banks like ANZ could feel the impact of lockdowns in the medium term.

According to the commentary, moderation in volume and housing growth could slow near-term growth prospects for banks.

However, a recent note from leading broker Morgans upgraded the rating of ANZ’s shares, issuing a share price target of $34.50.

According to analysts, shares in ANZ are well-placed to benefit from a number of industry tailwinds.

The broker noted that ANZ could benefit from treasury and markets income if the bank continued to focus on absolute cost reductions.

In addition, shares in the bank could be poised to benefit if ANZ improved the quality of its loan book.

Analysts also cited the bank’s recent forecasted dividends of $1.45 per share in FY21 and $1.65 per share in FY22.

Snapshot of the ANZ share price

There are several catalysts that appear to have helped propel the ANZ share price higher this year.

In May, ANZ reported a strong first-half report for FY21.

The report highlighted a 45% increase in statutory profit after tax of $2.94 billion. Continuing operations cash profit also increased 28% to $2.99 billion.

In addition, ANZ noted that improved credit conditions resulted in the release of almost $500 million during the half.

A strong full-year result by rival bank, Commonwealth Bank of Australia (ASX: CBA), has also helped boost the ANZ share price along with sentiment in the sector.

Finally, in July, ANZ announced its intention to buy back up to $1.5 billion of shares on market as part of its capital management plan.

The ANZ share price was down 0.14% trading at $27.87 at the market close on Friday.

The post What is the outlook for the ANZ (ASX:ANZ) share price? appeared first on The Motley Fool Australia.

More reading

• ANZ (ASX:ANZ) share price dips as bank predicts RBA will delay tightening
• ASX 200 bank shares could struggle due to lockdowns – expert
• It hasn’t been a great week so far for the ANZ (ASX:ANZ) share price
• Top broker picks best ASX 200 bank shares to buy coming out of reporting season
• How does the NAB dividend compare to its sector?

Motley Fool contributor Nikhil Gangaram 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.

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Once again, a large number of broker notes hit the wires last week. Some of these notes were positive and some were bearish.

Three sell ratings that caught my eye are summarised below. Here’s why top brokers think investors ought to sell these shares next week:

Fortescue Metals Group Limited (ASX: FMG)

According to a note out of Morgans, its analysts have retained their reduce rating and cut their price target on this iron ore producer’s shares to $19.20. While Fortescue delivered a full year result in line with the broker’s expectations, it has questions over the company’s target of becoming a global technology leader in renewables and green products. As worthy as this is, Morgans wonders whether being an early adopter would be a more efficient approach rather than an innovator. Especially given how it is moving into a space far outside its established core competencies. The Fortescue share price ended the week at $20.85.

InvoCare Limited (ASX: IVC)

A note out of Macquarie reveals that its analysts have retained their underperform rating but increased their price target on this funerals company’s shares to $9.90. This follows the release of a solid half year result, which outperformed its expectations. However, Macquarie appears to believe a lot of this strong first half will be underdone in the second half due to lockdown headwinds. In light of this, the broker doesn’t see enough value in its shares to change its rating. The InvoCare share price was fetching $12.52 at Friday’s close.

Wesfarmers Ltd (ASX: WES)

Analysts at Citi have retained their sell rating and lifted their price target on this conglomerate’s shares to $49.00. According to the note, the broker was pleased with Wesfarmers’ performance in FY 2021 and its $2.3 billion capital return announcement. And while this has led to an increase in both its earnings estimates and price target. It isn’t enough for a more positive rating. Citi continues to believe that Wesfarmers’ shares are overvalued at the current level. The Wesfarmers share price ended the week at $57.78.

The post Top brokers name 3 ASX shares to sell next week appeared first on The Motley Fool Australia.

More reading

• These were the worst performing ASX 200 shares last week
• Why the Fortescue (ASX:FMG) share price has underperformed the ASX 200 in the last year
• Why the Wesfarmers (ASX:WES) share price is down 9% in the last week
• Fortescue (ASX:FMG) share price under pressure as iron ore slides to 7-month low
• This leading broker tips Fortescue Metals (ASX:FMG) share price to rise by 42%

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 Wesfarmers Limited. The Motley Fool Australia has recommended InvoCare 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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