Top brokers name 3 ASX shares to sell next week

Pilbara Minerals Ltd (ASX:PLS) shares are one of three that top brokers have named as sells for next 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

Once again, a large number of broker notes hit the wires last week. Some of these notes were positive and some were quite bearish.

Three sell ratings that caught my eye are summarised below. Here's why top brokers think investors ought to sell these shares next week:

OZ Minerals Limited (ASX: OZL)

According to a note out of Credit Suisse, its analysts have retained their underperform rating and $8.00 price target on this copper producer's shares. The broker is concerned that OZ Minerals' cost guidance in 2020 will disappoint the market and be higher than current consensus estimates. It also appears to have a few concerns over the ramp up of the Carrapateena operation. The OZ Minerals share price ended the week at $10.84.

Pilbara Minerals Ltd (ASX: PLS)

A note out of the Macquarie equities desk reveals that its analysts have downgraded this lithium miner's shares to an underperform rating and slashed the price target on them to a lowly 21 cents. This follows a downgrade from outperform to neutral at the end of October. According to the note, the broker made the move due to the sharp decline in the price of the battery making ingredient. Macquarie notes that a subdued spodumene market is putting pressure on the company's sales volumes. The Pilbara Minerals share price last trade at 26 cents.

Spark Infrastructure Group (ASX: SKI)

Analysts at Morgans have retained their reduce rating but lifted the price target on this utility infrastructure company's shares to $2.00. According to the note, Morgans has concerns over Spark's higher expenditures. Especially given how its 49% owned South Australia Power Network is not expected to generate a notable increase in revenue through to 2025. This could weigh on its returns in the medium term. Spark Infrastructure's shares closed the week at $2.14.

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.

More on Share Market News

A happy young couple lie on a wooden deck using a skateboard for a pillow.
Share Gainers

These were the best-performing ASX 200 shares in March

These shares made their shareholders smile in March thanks to some very big gains.

Read more »

Businessman using a digital tablet with a graphical chart, symbolising the stock market.
Opinions

2 ASX shares I have been buying in 2024!

I’m a believer in the long-term outlook of these stocks.

Read more »

Stock market chart in green with a rising arrow symbolising a rising share price.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a massive day for the ASX 200, with a new all-time high recorded.

Read more »

A man sits thoughtfully on the couch with a laptop on his lap.
Technology Shares

This ASX tech stock rocketed 60% in March! Can it keep on delivering?

After soaring in March, the ASX tech stock is now up 169% since this time last year.

Read more »

Broker Notes

Brokers name 3 ASX shares to buy now

Here's why brokers are feeling bullish about these three shares this week.

Read more »

A young man clasps his hand to his head with his eyes closed and a pained expression on his face as he clasps a laptop computer in front of him, seemingly learning of bad news or a poor investment.
Share Fallers

Why Burgundy Diamond Mines, Clarity Pharmaceuticals, EML, and Zip are sinking today

These ASX shares are ending the week in the red. But why?

Read more »

A young women pumps her fists in excitement after seeing some good news on her laptop.
Share Gainers

Why Mesoblast, Newmont, Pilbara Minerals, and Platinum shares are jumping

These ASX shares are ending the week strongly. But why?

Read more »

a young boy dressed up in a business suit and tie has a cute grin and holds two fingers up.
Opinions

2 of my top ASX 200 shares to consider buying before April

I would happily exchange dollars for these two shares right now.

Read more »