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Leading brokers name 3 ASX shares to sell today

On Monday I looked at three ASX shares have been given buy ratings by brokers this week.

Not all shares have been fortunate enough to have the coveted buy rating placed on them, though.

The three shares listed below have all been given sell ratings this week. Here’s why:

Aurizon Holdings Ltd (ASX: AZJ)

According to a note out of Goldman Sachs, its analysts have retained their sell rating and lifted the price target on this rail freight operator’s shares slightly to $4.25 following the release of its half year results. Aurizon delivered EBIT of $406 million, which was a 16% decline on the prior corresponding period and short of the broker’s expectations. In light of this, Goldman has held firm with its sell rating, commenting that “value remains elusive”.

Bendigo and Adelaide Bank Ltd (ASX: BEN)

A note out of Citi reveals that its analysts have downgraded this regional bank’s shares to a sell rating from neutral and cut the price target on them by over 15% to $9.50 following its first half update. According to the note, the broker was disappointed that Bendigo and Adelaide Bank’s result was weaker than it expected despite lower bad debt expense. In addition to this, Citi is concerned that revenue headwinds are building and costs are growing. As a result of this, it has cut its cash earnings estimates and slashed the price target accordingly.

JB Hi-Fi Limited (ASX: JBH)

Analysts at Credit Suisse have retained their underperform rating but lifted the price target on this retailer’s shares ever so slightly to $21.12 following its half year update. According to the note, JB Hi-Fi’s first half result was in line with Credit Suisse’s expectations. However, the broker remains bearish on the company’s prospects over the long term as it believes the key small consumer electronics category is extremely vulnerable to online competition.

Those are the shares to sell, here are the shares to buy according to one top analyst.

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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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