Leading brokers name 3 ASX shares to sell today

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

| More on:
Business man marking Sell on board and underlining it

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

Yesterday we looked at three ASX shares brokers have given buy ratings to this week.

Unfortunately, not all shares are in favour with brokers right now. Three that have just been given sell ratings are listed below. Here’s why these brokers are bearish on these ASX shares:

JB Hi-Fi Limited (ASX: JBH)

According to a note out of Goldman Sachs, its analysts have retained their sell rating and $39.20 price target on this retail giant’s shares. This follows a review of the retail sector in light of supply chain concerns due to lockdowns in China. Goldman isn’t concerned about supply, noting that most discretionary goods categories are well stocked, potentially even over-stocked. It is, however, concerned with softening demand and increasing competition. The broker points out that a number of core brands are now signing with Amazon Australia. The JB Hi-Fi share price is trading at $47.94 on Tuesday.

Macquarie Group Ltd (ASX: MQG)

A note out of Credit Suisse reveals that that its analysts have downgraded this investment bank’s shares to an underperform rating and cut the price target on them to $150.00. Credit Suisse notes that Macquarie’s full-year results fell short of its expectations. And with the broker believing that the company’s earnings have peaked and that it was a big winner from low rates, it feels now is the time to sell. The Macquarie share price is fetching $179.15 today.

Wesfarmers Ltd (ASX: WES)

Another note out of Goldman Sachs reveals that its analysts have retained their sell rating and $38.60 price target on this conglomerate’s shares. Goldman expects Wesfarmers to be impacted from softening consumer demand due to broad-based inflation and higher housing costs. In addition, its analysts expect a decline in housing transaction volumes to dent household goods consumption. The Wesfarmers share price is trading at $48.80 this afternoon.

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 positions in and has recommended Wesfarmers Limited. The Motley Fool Australia has recommended Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Broker Notes

Red buy button on an apple keyboard with a finger on it representing asx tech shares to buy today
Broker Notes

Top brokers name 3 ASX shares to buy next week

Brokers are feeling positive about these ASX shares...

Read more »

A female broker in a red jacket whispers in the ear of a man who has a surprised look on his face as she explains which two ASX 200 shares should do well in today's volatile climate
Broker Notes

Experts say investors should buy these top blue chip ASX shares

Analysts are saying that these blue chip shares are in the buy zone…

Read more »

A scientist in a white coat and glasses puts her arms in the air in a sign of strength and success.
Healthcare Shares

Why this broker is tipping ‘strength in the CSL share price’

A leading broker is feeling positive about the CSL share price...

Read more »

Three happy miners.
Resources Shares

Broker sees 23% upside and a huge yield for BHP shares

BHP shares could offer the winning combination of strong gains and big dividends...

Read more »

Man looks shocked as he works on laptop on top a skyscraper with stockmarket figures in graphic behind him.
Broker Notes

9 ASX 200 shares now trading at ‘significant discounts’: broker

Top broker Goldman Sachs has revealed its top picks among the battered ASX 200 shares.

Read more »

Sad shopper sitting down with five shopping bags.
Retail Shares

What impacted ASX 200 retail shares this week?

With consumer confidence down substantially, one top broker has cut its share price targets for several ASX retail shares.

Read more »

Two excited mining workers in yellow high vis vests and hardhats shake hands to congratulate each other on a mineral discovery that is making the Galileo Mining share price rise today
Broker Notes

Guess which ASX 200 mining shares these experts are backing

These two ASX 200 shares are benefitting from Australia's current mining boom.

Read more »

A white and black clock face is shown with three hands saying Time to Buy reflecting Citi's view that it's time to buy ASX 200 banks
Broker Notes

Brokers name 3 ASX shares to buy today

Brokers are bullish on these ASX shares...

Read more »