Analysts have been busy updating their recommendations this month following the release of countless results.
Three ASX 200 shares that have received sell ratings, courtesy of The Bull, are named below. Here's why analysts are bearish on these names:
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CAR Group Limited (ASX: CAR)
This auto listings company's shares have been named as a sell by Shaw and Partners this week.
The broker has concerns over artificial intelligence (AI) disrupting the ASX 200 share's business model and heightening competition. It said:
CAR operates a global digital marketplace across diverse vehicle categories. Reported revenue of $626 million in the first half of fiscal year 2026 was up 8 per cent on the prior corresponding period. Reported net profit after tax of $143 million was up 16 per cent. However, the shares have fallen from $41.62 on August 18, 2025 to trade at $25.51 on February 19, 2026. In my view, CAR is another group exposed to advancing artificial intelligence, which is transforming the economics of software creation. AI can reduce barriers to entry and heighten competitive pressures. It may be prudent to reduce exposure.
Lovisa Holdings Ltd (ASX: LOV)
Over at MPC Markets, its analysts believe this fashion jewellery retailer's shares are expensive and think investors should be looking in some gains.
As a result, it has named the ASX 200 share as a sell. It explains:
This global fashion and jewellery accessories retailer generated total revenue of $500.7 million in the first half of fiscal year 2026, an increase of 23.3 per cent. The company released its results on February 19, 2026. Statutory net profit after tax of $58.39 million was up 2.6 per cent. The results appear to have fallen short of market estimates as the shares were down about 12 per cent in morning trade on February 19. The shares have fallen from $43.14 on August 29, 2025 to trade at $27.85 on February 19, 2026. Despite, the share price fall, we believe the shares are trading at a premium, so investors may want to consider cashing in some gains.
REA Group Ltd (ASX: REA)
Shaw and Partners is also feeling concerned about the threat of AI disruption on this property listings company's business.
In addition, it highlights that Domain now has a powerful owner that could increase competition. In light of this, it has named REA shares as a sell. The broker said:
This online multinational digital advertising business specialises in property. The shares have plunged since Nasdaq-listed CoStar Group acquired REA competitor Domain Holdings Australia in August 2025. REA is a strong operator, with a well established brand. However, CoStar is well equipped to provide fierce competition. Also, investors are most concerned about the impact artificial intelligence will have on the company's operations moving forward. As new AI‑driven competitors emerge, margins may compress and the traditional valuation multiples applied to software centric companies could moderate.
However, it is worth noting that not everyone agrees. For example, Morgans has a buy rating and $35.20 price target on CAR Group shares, Morgan Stanley has an overweight rating and $32.50 price target on Lovisa's shares, and Bell Potter has a buy rating and $211.00 price target on REA shares.
