The S&P/ASX 200 Index (ASX: XJO) smashed a new record high last Thursday at 9,109.7 points.
The market surge followed news that unemployment had risen to a four-year high of 4.5%, boosting hopes for another rate cut.
The gold rush also contributed to the market record, with the four biggest ASX 200 gold stocks closing the week at historical peaks.
Amid this heady market activity, experts warn that some ASX 200 shares have overshot their fundamental worth.
Here are four shares that have attracted sell ratings from top analysts.
4 ASX 200 shares to sell now: experts
Hub24 Ltd (ASX: HUB)
The Hub24 share price is $106.51 on Monday, surging 1.2%. Over the past 12 months, the stock has lifted 56%.
Jabin Hallihan from Family Financial Solutions says the investment platform provider has a strong record of performance.
However, he points out that the ASX 200 financial share has ripped from $56.75 on 7 April to $112.46 on 25 August.
Thus, he sees limited upside from here, commenting (courtesy The Bull):
We see limited upside, with valuation risk outweighing reward after the company set a high benchmark.
We recommend reducing exposure or locking in gains at current levels.
Wesfarmers Ltd (ASX: WES)
The Wesfarmers share price is $89.47, up 0.7% for the day and up 26% over the past 12 months.
Philippe Bui from Medallion Financial Group says the market's largest ASX 200 consumer discretionary share "looks fully valued after a strong multi-year run".
Bui comments:
Recently trading on a lofty price/earnings ratio of about 34 times and a modest dividend yield below 3 per cent, the stock commands a premium multiple that's difficult to justify given subdued retail sales, rising cost pressures and softer consumer sentiment.
The balance sheet remains strong, but near term growth catalysts are limited.
SGH Ltd (ASX: SGH)
The SGH share price is $48.33 today, up 0.3% for the day and up 12% over the past 12 months.
John Athanasiou from Red Leaf Securities points to SGH's strong share price run over the past two years.
The ASX 200 industrial share has lifted from $26.78 on 16 October 2023 to more than $48 apiece last week.
Athanasiou reckons it's time to take profits, commenting:
While operational execution is solid, the stock has traded up to a level where analysts see better opportunities elsewhere.
In our view, the company's high valuation presents an opportunity for investors to consider taking some profits.
Viva Energy Group Ltd (ASX: VEA)
The Viva Energy share price is $1.76, down 0.3% today and down 34% in the year to date.
On The Bull last week, Andrew Wielandt from DP Wealth Advisory explained his sell rating on the ASX 200 energy share.
Wielandt said:
The share price is under sustained pressure in response to weaker sales and lower than usual refining margins in the first half of fiscal year 2025.
A 27 per cent fall in tobacco sales, due to an increase in illicit sales, is also hurting the business.
