Brokers name 3 ASX shares to sell

Brokers are feeling bearish about these ASX shares…

| More on:
Keyboard button with the word sell on it.

Image source: Getty Images

Given that many brokers are taking a well-earned break over the holiday period, broker notes aren’t being published as regularly as normal.

In light of this, listed below are a few recent broker recommendations that are still very relevant today. Here are three ASX shares rated as sells:

DEXUS Property Group (ASX: DXS)

According to a note out of Citi, its analysts have retained their sell rating and $9.54 price target on this property company’s shares. While Citi acknowledges that a number of the DEXUS’ peers have recently announced strong updates, it isn’t in a rush to change its rating. The broker has previously flagged potential for further weakness in office rental markets, which it feels is likely to feed into office asset pricing. The Dexus share price is trading at $11.13 on Thursday.

Insurance Australia Group Ltd (ASX: IAG)

A note out of Morgan Stanley reveals that its analysts have downgraded this insurance company’s shares to an underweight rating and cut their price target on them to $3.75. Morgan Stanley has concerns over IAG’s margin outlook and ability to hold onto its market share. In light of this, it feels investors should stay away from the company’s shares. The IAG share price is fetching $4.36 at the time of writing.

Qantas Airways Limited (ASX: QAN)

Analysts at Credit Suisse have retained their underperform rating and $4.10 price target on this airline operator’s shares. This followed the release of Qantas’ trading update. Credit Suisse suspects that Qantas could now report a greater than expected loss in FY 2022 of ~$1.6 billion. This is due to the emergence of the omicron variant and the prospect of the international travel recovery being delayed. The Qantas share price is trading at $5.02 on Thursday.

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 over ten 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 January 12th 2022

Motley Fool contributor James Mickleboro has no position in any of the stocks 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 and has recommended Insurance Australia Group 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

Red buy button on an apple keyboard with a finger on it.
Broker Notes

Top brokers name 3 ASX shares to buy today

Brokers are feeling bullish about these ASX shares...

Read more »

A trendy woman wearing sunglasses is making it rain, spraying cash on that bargain.
Broker Notes

Macquarie reveals 2 sectors where bargain ASX shares still exist

The broker reckons ASX shares and US equities are still expensive, even after the recent pullback.

Read more »

A man leans out of his car window with a massive smile on his face and waves.
Industrials Shares

‘Too early to brake for the next exit’: What this top broker likes about Transurban shares

Analyst sentiment appears to be bullish on Transurban.

Read more »

a young girl wearing a set of airplane wings stands on a tarmac with hands in the air and an excited look on her face as though she is about to take off.
Broker Notes

Ready for takeoff? Top broker sees smooth runway for Qantas shares in 2022

Travel stocks are back in the limelight it seems.

Read more »

A group of three builders wearing worker overalls and carrying hard hats in their hands jumps jubilantly atopa rooftop space on a commercial building with an airconditioner shaft in the background and the sun behind a light cloud behind them.
Broker Notes

Why is the James Hardie share price surging higher today

We look at what's driving the recovery in the building materials company's shares on Wednesday.

Read more »

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

2 ASX shares I have supreme confidence in: fund manager

Ask A Fund Manager: Glenmore Asset Management's Robert Gregory names a pair of stocks that are both his biggest holdings…

Read more »

Two brokers analysing the share price with the woman pointing at the screen and man talking on a phone.
Broker Notes

How does the IAG share price stack up against analyst ratings?

Let's check in and see.

Read more »

A man wearing a shirt, tie and hard hat sits in an office and marks dates in his diary.
Broker Notes

Broker names 3 reasons the South32 share price could be cheap

South32 shares could be great value according to one leading broker...

Read more »