Two leading analysts are calling time on three big-name S&P/ASX 200 Index (ASX: XJO) stocks.
One is a major electronics retailer; one is a clinical-stage biotechnology company; and the third is an Aussie retail conglomerate.
Here's why they believe these companies are facing headwinds heading into 2026 (courtesy of The Bull).
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JB Hi-Fi shares facing inflationary pressures
The first ASX 200 stock to attract a sell rating this week is electronics retailer JB Hi-Fi Ltd (ASX: JBH).
JB Hi-Fi shares are up 8.4% over 12 months and trade on a 3.9% fully franked trailing dividend yield.
But Shaw and Partners' Jed Richards believes a number of issues, including elevated interest rates and resurgent inflation, could make for a more difficult year ahead.
According to Richards:
Total sales growth for JB Hi-Fi Australia was 6% in the first quarter of fiscal year 2026. Total sales growth for JB Hi-Fi New Zealand was 39.3%. However, sustaining sales growth will be a challenge.
In our view, this consumer electronics giant faces headwinds from a cost-of-living crisis, which is likely to dampen retail demand. Rising theft risks from organised gangs add further pressure to margins.
Richards concluded, "With the stock trading at elevated levels and consumer spending tightening, we suggest selling JBH and re-allocating the proceeds to sectors with stronger defensive characteristics."
Two other ASX 200 stocks attracting sell ratings
DP Wealth Advisory's Andrew Wielandt believes that top-level management issues at retail conglomerate Super Retail Group Ltd (ASX: SUL) make this ASX 200 stock one to sell.
Super Retail shares are up 7.3% in a year and trade on a fully franked 5.9% dividend yield.
"The retail giant's brands include Supercheap Auto, Macpac, Rebel and BCF. The company operates more than 750 stores," Wielandt said.
Explaining why the stock is a sell, he said:
SUL has experienced upheaval that led to the dismissal of the chief executive officer and the settlement of legal action against the company brought by former employees. Upheaval can interrupt innovation and focus on company operations.
We prefer to sit on the sidelines until the company demonstrates it can totally focus on the business.
The second ASX 200 stock Wielandt recommends as a sell is Mesoblast Ltd (ASX: MSB).
Mesoblast shares are up 44.6% in 12 months. But Wielandt doesn't expect that kind of performance in the months ahead.
"Mesoblast develops allogenic cellular medicines for treating severe and life-threatening inflammatory conditions," he said. "The company is listed on the ASX and the Nasdaq in the US."
According to Wielandt:
The company has been successful with its Ryoncil product since approved by the US Food and Drug Administration in late 2024. I acknowledge research and development requires a lot of spending, but MSB has undertaken numerous capital raisings during its journey amid attracting short interest, where investors bet the share price will fall.
The share price can be volatile and has fallen from $3.35 on January 2 to trade at $2.305 on November 13. I prefer more stable stocks.
In early afternoon trade today, Mesoblast shares are changing hands for $2.29 apiece.
