Top brokers name 3 ASX shares to sell next week

Top brokers have named A2 Milk Company Ltd (ASX:A2M) and these ASX shares as sells for next week. Here's why they are bearish…

| More on:
hand drawing a clock face with the words time to sell

Image Source: Getty Images

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 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:

A2 Milk Company Ltd (ASX: A2M)

According to a note out of Citi, its analysts have retained their sell rating and cut the price target on this infant formula company's shares to $14.20. Although the broker believes the headwinds the company is facing will only be temporary, it has concerns they may remain for longer than you might expect. Especially given how Chinese tourists and students, which support the daigou channel, are unable to enter Australia at present. The a2 Milk share price ended the week lower than this price target at $13.98.

AGL Energy Limited (ASX: AGL)

Analysts at Morgan Stanley have retained their underweight rating and $14.14 price target on this energy company's shares. This follows news that the Tomago Smelter is looking to renegotiate its contract with AGL. The broker sees risks from renegotiations, which only adds to the headwinds it is facing. Overall, its analysts suspect that the next few years could be challenging for AGL and investors can find better options elsewhere. However, a heavy decline last week means the AGL share price is now trading below this target price at $13.50.

Capricorn Metals Ltd (ASX: CMM)

A note out of the Macquarie equities desk reveals that its analysts have retained their underperform rating but lifted the price target on this gold miner's shares to $1.70. Although the broker has lifted its gold price forecasts and earnings estimates, which led to its price target increase, it doesn't see enough value in its shares at the current level to change its rating. Macquarie sees more value in other gold miners. The Capricorn Metals share price ended the week at $1.76.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended A2 Milk. 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 »