On Monday I looked at three ASX shares that have been given buy ratings by leading brokers this week.
Unfortunately, not all shares are in favour with brokers right now. The three shares listed below have all just been given sell ratings. Here's why they are bearish on them:
Ainsworth Game Technology Limited (ASX: AGI)
According to a note out of UBS, its analysts have retained their sell rating and 46 cents price target on this gaming technology company's shares. The broker notes that Ainsworth Game Technology delivered a first half result in line with its downgraded guidance this week. And although management is forecasting a return to growth in the second half, UBS doesn't appear convinced by this and continues to forecast another loss. The Ainsworth Game Technology share price is changing hands at 68 cents today.
Domain Holdings Australia Ltd (ASX: DHG)
Analysts at Morgans have retained their reduce rating but lifted the price target on this real estate listings company's shares slightly to $2.54. According to the note, the broker was disappointed with Domain's performance in the first half and notes that its result was well short of expectations. Morgans notes that its average prices were far lower than it forecast and appears concerned that its second half earnings could be under pressure if things don't improve quickly. The Domain share price is down 1.5% to $3.42 this afternoon.
Platinum Asset Management Ltd (ASX: PTM)
A note out of Credit Suisse reveals that its analysts have retained their underperform rating and $4.05 price target on this fund manager's shares. According to the note, Platinum delivered a half year result that was better than it expected. However, it notes that its investment performance remains soft and fears this could lead to further fund outflows in the second half and into FY 2021. The Platinum share price is changing hands at $4.38 this afternoon.
