Leading brokers name 3 ASX shares to sell today

Leading brokers have named Bendigo and Adelaide Bank Ltd (ASX:BEN) and these ASX shares as sells…

| 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

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

Unfortunately, not all shares are in favour with brokers right now. The three shares listed below have all just been given sell ratings. Here's why they are bearish on them:

ASX Ltd (ASX: ASX)

According to a note out of Morgans, its analysts have retained their reduce rating but lifted the price target on this stock exchange operator's shares to $72.14 following its half year results release. ASX Ltd delivered a result which was in line with the broker's expectations. But this wasn't enough for a change of rating. Morgans continues to believe that its shares are expensive at the current level and therefore holds firm with its reduce rating. The ASX Ltd share price is trading at $82.17 this afternoon.

Bendigo and Adelaide Bank Ltd (ASX: BEN)

A note out of the Macquarie equities desk reveals that its analysts have retained their underperform rating and trimmed the price target on this regional bank's shares to $8.75. According to the note, the broker was pleasantly surprised by Bendigo and Adelaide Bank's margin trends in the first half. However, it doesn't appear confident that the trends will stay positive for long. It expects margin pressures to reappear in the second half and weigh on its performance. The Bendigo and Adelaide Bank share price is down 5% to $10.02 this afternoon.

Paradigm Biopharmaceuticals Ltd (ASX: PAR)

Another note out of Morgans reveals that its analysts have retained their reduce rating but lifted the price target on this biopharmaceutical company's shares to $2.16. According to the note, Paradigm's first half results were largely in line with its expectations. However, the broker continues to believe that the company's shares are overvalued at the current level. It appears to think the market is getting ahead of itself based on inconclusive results from its phase two osteoarthritis trial. The Paradigm share price is currently changing hands notably higher than this price target at $3.99.

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 »