Top brokers name 3 ASX shares to sell next week

Brokers aren’t feeling overly positive on these shares…

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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:

Air New Zealand Limited (ASX: AIZ)

According to a note out of Macquarie, its analysts have retained their underperform rating and cut their price target on this airline operator’s shares to NZ$0.75 (69 Australian cents). The broker has looked at Air New Zealand’s recapitalisation package and expects significant dilution to earnings. Overall, Macquarie believes Air New Zealand’s shares are overvalued at the current level and warns that dividends are likely to be off the table until FY 2026. The Air New Zealand share price ended the week at $1.15.

Commonwealth Bank of Australia (ASX: CBA)

Another note out of Macquarie reveals that its analysts have retained their underperform rating and $90.00 price target on this banking giant’s shares. Macquarie has concerns that upcoming updates from the banks could disappoint and weigh on their shares. This is due to margin weakness caused by slowing volume growth and competitive pressures. The CBA share price was fetching $104.53 at Friday’s close.

Premier Investments Limited (ASX: PMV)

Analysts at Goldman Sachs have retained their sell rating and $24.30 price target on this retail conglomerate’s shares. Goldman has been looking over the federal budget and has picked out its winners and losers. Unfortunately, Premier Investments is more likely to be in the latter camp according to the broker. Goldman believes the apparel and accessories category will be most susceptible to downside risk from the weakening of the discretionary goods growth. The Premier Investments share price was trading at $26.88 at Friday’s close.

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 has recommended Macquarie Group Limited and Premier Investments Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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