On Wednesday I looked at three ASX shares that brokers have given buy ratings to this week.
Unfortunately, not all shares are in favour with them right now. Three that have just been given sell ratings are listed below. Here's why these brokers are bearish on them:
BWP Trust (ASX: BWP)
Analysts at Citi have retained their sell rating but lifted the price target on this property trust's units ever so slightly to $2.72. According to the note, the Bunnings landlord fell a little short of expectations in FY 2019 and believes that FY 2020 could be a year of slower growth. Citi also appears a little concerned with potential lease expirations from some anchor tenants. If these occur they could be a major headwind for the trust. BWP Trust's units are currently trading 0.5% lower at $3.76.
Commonwealth Bank of Australia (ASX: CBA)
A note out of Goldman Sachs reveals that its analysts have retained their sell rating and trimmed the price target on this banking giant's shares to $74.58 following the release of its full year results. According to the note, CBA's result fell short of its estimates due to softer-than-expected revenues. And whilst its final dividend was in line with expectations, no special dividend was declared as the broker had hoped. In addition to this, the bank's CET1 ratio of 10.68% came in slightly lower than its 10.79% estimate. The CBA share price is down 1% to $77.94 on Thursday.
Domain Holdings Australia Ltd (ASX: DHG)
According to a note out of Morgans, its analysts have retained their sell rating and lifted the price target on this property listings company's shares slightly to $2.25. The broker continues to be bearish on Domain after analysing recent property listings data. In fact, it has now pushed back its forecasts for a rebound in new listings on the belief that sellers are becoming increasingly hesitant to put their houses on the market. The Domain share price is down 2.5% to $2.74.
