Top brokers name 3 ASX shares to sell today

Treasury Wine Estates Ltd (ASX:TWE) shares are one of three that top brokers have named as sells today…

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

On Wednesday I looked at three ASX shares that brokers have given buy ratings to this week.

Unfortunately, not all shares are in favour with them right now. Three that have just been given sell ratings are listed below. Here's why these brokers are bearish on them:

Dacian Gold Ltd (ASX: DCN)

According to a note out of the Macquarie equities desk, its analysts have downgraded this gold miner's shares to an underperform rating with a $1.20 price target. Although Dacian delivered a stronger than expected full year result in FY 2019, this was largely due to lower depreciation. As a result, this hasn't been enough to stop the broker from downgrading its shares on valuation grounds after a solid share price gain recently. The Dacian Gold share price is down 1.5% on Thursday.

Inghams Group Ltd (ASX: ING)

Analysts at UBS have retained their sell rating and $3.10 price target on this poultry producer's shares. According to the note, the broker believes there are downside risks to its earnings due to rising feed costs caused by the droughts. In addition to this, UBS has concerns over upcoming contract renewals and fears they could be made on less favourable terms. The Inghams share price is up 0.5% to $3.14 on Thursday afternoon. 

Treasury Wine Estates Ltd (ASX: TWE)

A note out of Citi reveals that its analysts have retained their sell rating and $15.60 price target on this wine company's shares. According to the note, the broker continues to believe that Treasury Wine Estates will struggle with its medium term growth targets. This is partly to do with an expected slowdown in sales growth in the China market due to increasing competition. In addition to this, the broker remains cautious on growth in its Americas segment and has previously noted rising grapes costs as a potential headwind. The Treasury Wine Estates share price is up 1% to $19.02 on Thursday.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Treasury Wine Estates Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Market News

Silhouettes of nine people climbing a steep mountain to the top at sunset, and helping each other along the way.
Share Gainers

Here are the top 10 ASX 200 shares today

The markets took a turn for the worse again today.

Read more »

A woman sits with her hands covering her eyes while lifting her spectacles sitting at a computer on a desk in an office setting.
52-Week Lows

Market slump drags 26 ASX 200 shares to multi-year lows

Heavyweight ASX 200 companies like CSL and Wisetech are among them.

Read more »

A happy male investor turns around on his chair to look at a friend while a laptop runs on his desk showing share price movements
Broker Notes

Guess which ASX 100 stock Goldman Sachs just upgraded

Let's see which stock Goldman Sachs is feeling more upbeat about.

Read more »

Happy couple doing grocery shopping together.
Opinions

Is the Woolworths share price a buy today?

Things could be looking up for this supermarket giant

Read more »

A bored woman looking at her computer, it's bad news.
Share Fallers

Why Brickworks, Nickel Industries, Polynovo, and Qantas shares are sinking today

These shares are having a difficult time on Tuesday. But why?

Read more »

An executive in a suit smooths his hair and laughs as he looks at his laptop feeling surprised and delighted.
Share Gainers

Why APA, Aurelia Metals, Magnetic Resources, and ResMed shares are rising today

These shares are avoiding the market selloff on Tuesday.

Read more »

plummeting gold share price
Gold

This $3 billion ASX 200 gold stock just crashed 15%! Here's why

Investors are punishing the ASX 200 gold stock today. But why?

Read more »

Piggybank with an army helmet and a drone next to it, symbolising a rising DroneShield share price.
Broker Notes

Brokers rate these 2 ASX growth stocks as top buys

Both of these names are well on the growth route from 2025.

Read more »