Unfortunately not all shares have found favour with Australia's leading brokers like these in the last few days.
Some have fallen out of favour so much they have been downgraded to sell ratings. Here are three which stood out:
Adelaide Brighton Ltd. (ASX: ABC)
A research note out of UBS reveals that it has placed a sell rating and a $5.00 price target on the cement and lime manufacturer and distributor's shares. According to the note UBS believes that Adelaide Brighton's cement margins are likely to have peaked and could soon start to narrow. If the strong cement margins that the company has been enjoying prove to have peaked, then I do think its profit growth and shares could come under pressure over the next 12 months.
Regis Resources Limited (ASX: RRL)
Analysts at UBS have also downgraded this leading gold producer to a sell rating with a $3.13 price target. Analysts at the leading investment bank think the gold mining sector and Regis in particular look expensive. As a result it sees better risk/reward elsewhere on the market. As I'm reasonably bearish on the gold price I would have to agree with UBS on this one. While rising tensions in Syria and North Korea may give the gold price a short term boost, I expect U.S. rate rises will send the precious metal on a path to US$1,000 an ounce over the next year or two.
Whitehaven Coal Ltd (ASX: WHC)
According to a research note out of Macquarie, its analysts have downgraded the coal producer to an underperform rating with a $2.70 target price. While Whitehaven's recent quarterly report was reasonably solid, its sales were slightly lower than its analysts had expected. Furthermore, although coal prices have risen, they expect the company will have to offer larger discounts to be able to increase semi-soft coal sales. Whilst Whitehaven's share price has fallen heavily in the last couple of weeks, it would still have to fall significantly more before I'd consider an investment.
