Top brokers name 3 ASX shares to sell next week

Brokers aren’t feeling very positive about these shares…

| More on:
Three guys in shirts and ties give the thumbs down.

Image source: Getty Images

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 investors might want to hear about are summarised below. Here’s why top brokers think investors ought to sell these shares next week:

ASX Ltd (ASX: ASX)

According to a note out of Morgan Stanley, its analysts have downgraded this stock exchange operator’s shares to an underweight rating and cut the price target on them to $72.50. The broker doesn’t see value in the company’s shares compared to global peers. Particularly given the risks it is facing. This includes potentially higher costs from its CHESS replacement project. The ASX share price ended the week at $84.78.

Sandfire Resources Ltd (ASX: SFR)

A note out of Ord Minnett reveals that its analysts have downgraded this copper miner’s shares to a sell rating with a $5.60 price target. This follows the release of a mixed fourth quarter update this month. Ord Minnett notes that Sandfire’s production was strong during the quarter, but its costs were disappointing. In light of this and a strong share price rally over the last three months, the broker has no option but to downgrade its shares. The Sandfire share price was fetching $6.88 at the end of the week.

Zip Co Ltd (ASX: Z1P)

Analysts at Macquarie have retained their underperform rating and slashed their price target on this buy now pay later provider’s shares to $3.40. This follows the release of a second quarter update which fell short of the broker’s forecasts. Macquarie appears concerned by Zip’s slowing momentum in the US. This has led to its analysts downgrading their earnings estimates for the coming years, resulting in the reduction in its price target. The Zip share price ended the week at $3.33.

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. owns and has recommended ZIPCOLTD FPO. The Motley Fool Australia has no position in any of the stocks mentioned. 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

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 »

A woman looks questioning as she puts a coin into a piggy bank.
Broker Notes

Already down 7% in 2022, is the ANZ share price cheap?

Investors following the big four bank might be wondering the same.

Read more »

Business man marking Sell on board and underlining it
Broker Notes

Leading brokers name 3 ASX shares to sell today

Here’s why brokers aren’t feeling positive about these ASX shares…

Read more »

a man holds his hand under his chin as he concentrates on his laptop screen and makes a concerned face.
Growth Shares

Are investors missing out on these ASX share opportunities?

Here are two ASX shares that investors might be missing out on.

Read more »

The hands of three people are cupped around soil holding three small seedling plants that are grouped together in the centre of the shot with the arms of the people extending into the edges of the picture.
Growth Shares

‘Future-proof your portfolio’: experts pick 3 quality growth ASX shares to buy

Growth shares have been hammered the past six months. A couple of fund managers nominate which ones to pick up…

Read more »

Group of thoughtful business people with eyeglasses reading documents in the office.
Broker Notes

Up 30% in 2022, is it too late to buy Beach Energy shares?

Beach Energy could be one to keep an eye on, according to some brokers.

Read more »

Female miner smiling while inspecting a mine site with another miner.
Resources Shares

Brokers name 2 ASX 200 mining shares to buy

Here are two mining shares rated as buys...

Read more »