The Motley Fool

Leading brokers name 3 ASX 200 shares to sell today

On Monday 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 these ASX 200 shares:

Fisher & Paykel Healthcare Corp Ltd (ASX: FPH)

According to a note out of Citi, its analysts have retained their sell rating but lifted their price target on this medical device company’s shares to NZ$22.75 (A$21.25). Although the broker acknowledges that the medical device company delivered a strong full year result this week and its guidance for FY 2021 could be conservative, it still has issues with its valuation. The broker believes its shares are trading on excessive multiples. The Fisher & Paykel Healthcare share price is changing hands for $32.71 today.

Newcrest Mining Limited (ASX: NCM)

A note out of the Macquarie equities desk reveals that its analysts have downgraded this gold mining giant’s shares to an underperform rating with a $28.00 price target. Macquarie has made sweeping downgrades to a range of gold miners today. Its analysts aren’t as positive on the industry anymore due to the strengthening Australian dollar. It expects this to impact the industry’s earnings growth in the near term. The Newcrest share price is up slightly to $31.43 this afternoon.

Qantas Airways Limited (ASX: QAN)

Analysts at Credit Suisse have retained their underperform rating and lifted the price target on this airline operator’s shares to $3.00. Although the broker sees positives in its recovery plan, it has warned that there are risks to it. In addition to this, Credit Suisse has previously suggested that a full recovery could take until FY 2023. In light of this, it doesn’t appear to see any reason to rush in at this price. Qantas shares are up at $3.88 this afternoon.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

*Returns as of June 30th

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.

Related Articles...