These ASX shares are on investor radars for all the wrong reasons this week. And for that reason, I'm steering clear.
Image Source: Getty Images
Australia and New Zealand Banking Group (ASX: ANZ)
ANZ shares have stormed higher over the past 12 months, but I don't think there is any more room for the shares to run. The team at Macquarie have also flagged that the banking giant is showing early signs of revenue underperformance. It's enough for me to stay clear right now.
ANZ shares are 0.15% higher at $36.16 at the time of writing on Thursday morning.
CSL Ltd (ASX: CSL)
CSL shares have tumbled another 6% this week as investor sentiment continues to slide. On Monday, the team at Macquarie downgraded the company's shares to a neutral rating (from buy) and said the company is now out of its growth stage. The broker also heavily reduced its price target on the shares to $188, down from $275.20 previously.
The ASX shares are trading at $173.20 a piece at the time of writing.
Treasury Wine Estates Ltd (ASX: TWE)
The wine giant's shares crashed 9.29% on Wednesday after the company released an investor update and outlook for the first half of FY26. It said that trading conditions have weakened in recent months, particularly in the US and China. This means near-term improvement is unlikely.
Macquarie analysts lowered their target price on Treasury Wine Estates shares to $5 (down from $6.40) this morning. More analyst updates on the stock are likely to come in over the next few days. I'm quietly optimistic that the latest result is mostly priced in by the market already, but I'd sit tight on the shares until the dust has settled.
At the time of writing on Thursday morning, the ASX wine giant's shares have dropped another 4.22% to $4.77 a piece.
Commonwealth Bank of Australia (ASX: CBA)
It's no secret that I'm keeping well clear of CBA shares right now. I still think the bank stock's premium share price is far too expensive, and could correct sharply from here. Discussions about tighter monetary policy and the return of rate-hike talk will continue to put pressure on the banking giant's shares, too.
At the time of writing, the ASX banking giant's shares are 0.25% lower for the day at $153.48 a piece.
Lendlease Group (ASX: LLC)
Lendlease shares have faced several headwinds this year, and according to DP Wealth Advisory's Andrew Wielandt, the company could continue to struggle in the near term. He explained that the company has reduced debt and risk by divesting overseas projects and operations, but is concerned that this may lead to fewer development opportunities because it has less capital to recycle.
At the time of writing on Thursday morning, Lendlease shares are trading at $4.95 a piece, unchanged for the day so far.
