Top brokers name 3 ASX shares to sell today

Computershare Limited (ASX:CPU) shares are one of three that top brokers have slapped sell ratings onto this week…

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

On Thursday I had a look at three shares that had found favour with brokers and been given the much-coveted buy rating.

Today I thought I would look at the other side of the coin, at the shares that have fallen out of favour and been given the dreaded sell rating.

Here are three that caught my eye:

Beach Energy Ltd (ASX: BPT)

According to a note out of Citi, its analysts have retained their sell rating and reduced the price target on the energy company's shares to $1.14 after its latest production update came in weaker than expected. The broker did, however, take note of its strong levels of free cash flow. But this wasn't enough to warrant a change of rating. While I wouldn't necessarily be a seller of its shares if I owned them, I think there are better options elsewhere in the industry.

Computershare Limited (ASX: CPU)

A note out of Deutsche Bank reveals that its analysts have retained their sell rating and $15.10 price target on the shares of Computershare following its investor day earlier this week. While the broker has noted management's plans to simplify its business and make it more transparent, it isn't enough to offset its concerns over the sustainability of its mortgage servicing margins. I would agree with Deutsche on this one and think investors can find better value elsewhere.

Western Areas Ltd (ASX: WSA)

Analysts at UBS have retained their sell rating but increased the price target on the nickel producer's shares from $2.80 to $3.02. According to the note, UBS felt the latest quarterly update was weak and appears disappointed that its full-year guidance has been trimmed. However, favourable nickel price movements have led to an improved price target. I'm quite bullish on nickel due to supply concerns and increased demand from battery manufacturers. But after a strong run Western Area's shares may be getting close to fully valued now.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Computershare. 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.

More on ⏸️ Investing

Close up of baby looking puzzled
Retail Shares

What has happened to the Baby Bunting (ASX:BBN) share price this year?

It's been a volatile year so far for the Aussie nursery retailer. We take a closer look

Read more »

woman holds sign saying 'we need change' at climate change protest
ETFs

3 ASX ETFs that invest in companies fighting climate change

If you want to shift some of your investments into more ethical companies, exchange-traded funds can offer a good option

Read more »

a jewellery store attendant stands at a cabinet displaying opulent necklaces and earrings featuring diamonds and precious stones.
⏸️ Investing

The Michael Hill (ASX: MHJ) share price poised for growth

Investors will be keeping an eye on the Michael Hill International Limited (ASX: MHJ) share price today. The keen interest…

Read more »

ASX shares buy unstoppable asx share price represented by man in superman cape pointing skyward
⏸️ Investing

The Atomos (ASX:AMS) share price is up 15% in a week

The Atomos (ASX: AMS) share price has surged 15% this week. Let's look at what's ahead as the company build…

Read more »

Two people in suits arm wrestle on a black and white chess board.
Retail Shares

How does the Temple & Webster (ASX:TPW) share price stack up against Nick Scali (ASX:NCK)?

How does the Temple & Webster (ASX: TPW) share price stack up against rival furniture retailer Nick Scali Limited (ASX:…

Read more »

A medical researcher works on a bichip, indicating share price movement in ASX tech companies
Healthcare Shares

The Aroa (ASX:ARX) share price has surged 60% since its IPO

The Aroa (ASX:ARX) share price has surged 60% since the Polynovo (ASX: PNV) competitor listed on the ASX in July.…

Read more »

asx investor daydreaming about US shares
⏸️ How to Invest

How to buy US shares from Australia right now

If you have been wondering how to buy US shares from Australia to gain exposure from the highly topical market,…

Read more »

⏸️ Investing

Why Fox (NASDAQ:FOX) might hurt News Corp (ASX:NWS) shareholders

News Corporation (ASX: NWS) might be facing some existential threats from its American cousins over the riots on 6 January

Read more »