Leading brokers name 3 ASX shares to sell today

Brokers are bearish on these ASX shares…

| More on:
Woman in glasses writing on sell on board

Image Source: Getty Images

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 shares:

Domino’s Pizza Enterprises Ltd (ASX: DMP)

According to a note out of Credit Suisse, its analysts have retained their underperform rating and $70.71 price target on this pizza chain operator’s shares. This follows news that the company is acquiring Domino’s Taiwan for $79 million. While the broker notes that there are opportunities to expand its store network significantly in the market, it isn’t enough for a change of rating. It continues to believe that Domino’s shares are overvalued. The Domino’s share price is fetching $118.46.


A note out of Morgan Stanley reveals that its analysts have downgraded this clean energy company’s shares to an underweight rating but increased the price target on them to $6.35. The broker has been pleased with IGO’s shift to a clean energy company, however, it believes the market is overvaluing its assets. In response to this, the broker has downgraded its shares today. The IGO share price is trading at $7.39.

Premier Investments Limited (ASX: PMV)

Analysts at Goldman Sachs have retained their sell rating but lifted their price target on this retail conglomerate’s shares to $21.10.  This follows the release of a trading update last week which revealed that its strong growth has continued since its last update. While Goldman has been impressed with its stronger than expected performance, it is expecting a sharp earnings decline next year. In light of this, it feels that its shares are still overvalued at the current level. The Premier Investments share price is trading at $28.70 today.

Wondering where you should 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 could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of May 24th 2021

James Mickleboro does not own any shares mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Premier Investments Limited. The Motley Fool Australia has recommended Dominos Pizza Enterprises Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Broker Notes