Top brokers name 3 ASX shares to sell today

Top brokers have named Afterpay Ltd (ASX: APT) and these ASX shares as sells this month. Here's why they are bearish…

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With most brokers taking a well-earned break over the holiday period, research notes are few and far between right now.

In light of this, I thought I would take a look at a few that have been released over the last few weeks that remain very relevant today.

Three sell ratings that you might want to pay attention to are listed below:

Afterpay Ltd (ASX: APT)

According to a note out of UBS, its analysts have retained their sell rating and $30.00 price target on this payments company's shares. The broker has held firm with its bearish view despite Afterpay reporting a record-breaking month of trade in the United States in November. UBS has concerns over management's selective disclosures. It notes that there was no October sales update, nor was there any bad debt data for November. The Afterpay share price is currently trading at $118.37.

Fortescue Metals Group Limited (ASX: FMG)

A note out of Morgan Stanley reveals that its analysts have retained their underweight rating but lifted the price target on this iron ore producer's shares to $17.45. According to the note, the broker has upgraded its earnings forecasts over the coming years to reflect higher than expected iron ore prices. However, this isn't enough for a change of rating and the broker appears to believe its shares are still overvalued at the current level. The Fortescue share price is changing hands for $23.98 this afternoon.

Transurban Group (ASX: TCL)

Analysts at Citi have retained their sell rating and $12.83 price target on this toll road operator's shares. This followed the release of an update on its North American operations earlier this month. That update revealed that Transurban has sold a 50% stake in its Greater Washington assets to AustralianSuper and two other funds. While the broker sees positives in the move and expects it to reduce its leverage, it believes the reduction in earnings could put pressure on dividends until the funds are redeployed. The Transurban share price is currently trading at $13.63.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of AFTERPAY T FPO and Transurban Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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