Knowing which ASX shares to sell can be just as important as knowing which ones to buy.
After all, if you hold onto some bad eggs for too long, your portfolio could struggle to keep up with the market.
With that in mind, courtesy of The Bull, let's take a look at three ASX shares that analysts are tipping as sells. They are as follows:
Commonwealth Bank of Australia (ASX: CBA)
Analysts at Medallion are bearish on Australia's largest bank and thinks investors should be selling its shares.
They highlight that CBA shares trade a significant premium to peers at a time when loan growth is moderating and net interest margins appear to have peaked. Medallion said:
CBA is Australia's strongest major bank, boasting market leadership, exceptional profitability and a rock solid balance sheet, but its valuation has run ahead of fundamentals. Given a recent price/earnings ratio of about 27 times, the stock trades at a significant premium to peers, such as National Australia Bank and ANZ. We expect earnings momentum to subside as loan growth moderates and net interest margins peak.
Endeavour Group Ltd (ASX: EDV)
Over at Red Leaf Securities, its analysts aren't recommending the beaten down shares of this drinks giant. Instead, they think investors should be selling them.
The broker highlights that the Dan Murphy's owner is facing persistent operational challenges and could be forced to downgrade its guidance. It explains:
Endeavour operates liquor outlets, hotels and gaming facilities. Group sales of $12.1 billion in full year 2025 were down 0.3 per cent on the prior corresponding period. Net profit after tax of $426 million was down 15.8 per cent. Subdued consumer spending in retail liquor and the impact of supply chain disruption contributed to the weaker result. The company faces persistent operational challenges and possible guidance downgrades as leadership assesses the business and implements changes. The shares remain under pressure. We suggest investors consider selling some stock until a clearer picture of a recovery emerges in the business.
SGH Ltd (ASX: SGH)
Red Leaf Securities is also bearish on this diversified investment company and thinks its shares are a sell.
This recommendation is based largely on valuation grounds after a strong rise over the past two years. The broker said:
This diversified company has businesses across industrial services, energy and media. It has a strong management team. Revenue of $10.7 billion in fiscal year 2025 was up 1 per cent on the prior corresponding period. Net profit after tax of $924 million was up 9 per cent. While operational execution is solid, the stock has traded up to a level where analysts see better opportunities elsewhere. Parts of the business are cyclical, which can be positively or negatively influenced by economic and business conditions. In our view, the company's high valuation presents an opportunity for investors to consider taking some profits. The shares have risen from $26.78 on October 16, 2023, to trade at $48.48 on October 16, 2025.
