MENU

Leading brokers name 3 ASX shares to sell today

On Monday I looked at three shares that have found favour with brokers this week and been given buy ratings by them.

Not all shares are in favour with brokers right now, though. Three shares that have been given sell ratings this week are listed below. Here’s why brokers have bearish on them:

Mayne Pharma Group Ltd (ASX: MYX)

According to a note out of the Macquarie equities desk, it has started coverage on this pharmaceutical company with an underperform rating and $1.05 price target on its shares. While the broker believes that Mayne Pharma has long-term growth opportunities, it believes in the short term there are downside risks due to its generic drugs business. Next week Mayne Pharma will hold its annual general meeting and is likely to provide the market with a trading update.

Medibank Private Ltd (ASX: MPL)

A note out of Goldman Sachs reveals that its analysts have retained their sell rating and cut the price target on the private health insurer’s shares to $2.48 after it announced a surprise contract loss on Monday. Medibank Private announced that it has lost the Garrison Health Services contract which contributed $30 million to its operating profit in FY 2018. Goldman believes this unexpected contract loss adds to earnings headwinds and further reduces its already limited earnings diversification.

Myer Holdings Ltd (ASX: MYR)

Analysts at Deutsche Bank have retained their sell rating and 36 cents price target on this department store operator’s shares following its unplanned sales update on Friday. That update revealed that first quarter sales fell 4.8% on the prior corresponding period. Same store sales were down 4.3% and online sales grew just 3.6%. The broker appears disappointed with Myer’s performance so far in FY 2019 and sees no reason to change its rating any time soon.

While those may the shares to sell, these shares are the ones that have been tipped as buys in 2019.

Top 3 ASX Blue Chips To Buy For 2019

For many, blue chip stocks mean stability, profitability and regular dividends, often fully franked..

But knowing which blue chips to buy, and when, can be fraught with danger.

The Motley Fool’s in-house analyst team has poured over thousands of hours worth of proprietary research to bring you the names of "The Motley Fool’s Top 3 Blue Chip Stocks for 2019."

Each one pays a fully franked dividend. The names of these Top 3 ASX Blue Chips are included in this specially prepared free report. But you will have to hurry. Depending on demand – and how quickly the share prices of these companies moves – we may be forced to remove this report.

Click here to claim your free report.

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

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.