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Top brokers name 3 ASX 200 shares to sell today

On Wednesday I looked at three ASX shares that brokers have given the highly-coveted buy rating to this week.

Unfortunately, not all shares are in favour right now and some have been given the unwanted sell rating.

Three ASX 200 shares that brokers have named as sells are listed below:

APA Group (ASX: APA)

According to a note out of Credit Suisse, it has downgraded the natural gas transportation company’s shares all the way down from an outperform rating to underperform and slashed the price target on them to $7.65. The broker made the move in response to the Foreign Investment Review Board (FIRB) confirming that the CKI acquisition would be blocked at the end of the last month. The FIRB said the “proposed acquisition of APA Group would be contrary to the national interest.”

Medibank Private Ltd (ASX: MPL)

Analysts at Goldman Sachs have retained their sell rating and $2.48 price target on this private health insurer’s shares after it announced its 2019 premium increases. According to the note, although the increase of 3.3% was ahead of the broker’s expectations, recent volatility in claims growth means Goldman doesn’t see this as providing meaningful upside to its estimates. In addition to this, the broker notes that its current model doesn’t include the impact of the new reform package, which it believes could lead to additional revenue pressures in the industry.

Orica Ltd (ASX: ORI)

A note out of Citi reveals that its analysts have retained their sell rating and $16.00 price target on this specialty chemicals company after its annual general meeting on Wednesday. According to the note, although the company retained its guidance for FY 2019 at the event and explosives demand remains strong, the broker remains concerns by its lack of earnings leverage and upcoming contract renewals.

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.

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