Top brokers name 3 ASX shares to sell next week

Brokers aren't feeling overly positive on these shares…

| More on:
Sell buy and hold on a digital screen with a man pointing at the sell square.

Image source: Getty Images

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

Once again, a large number of broker notes hit the wires last week. Some of these notes were positive and some were bearish.

Three sell ratings that investors might want to hear about are summarised below. Here's why top brokers think investors ought to sell these shares next week:

Appen Ltd (ASX: APX)

According to a note out of Macquarie, its analysts have retained their underperform rating and $5.70 price target on this artificial intelligence data services company's shares. This follows news that the company has made a small investment in a synthetic data company Mindtech. Macquarie notes that this will give Appen exposure to a growing synthetic data market and expand its addressable opportunity. However, this isn't enough for a more positive view. Macquarie continues to have concerns about its outlook and lack of guidance in FY 2022. The Appen share price ended the week at $6.81.

Commonwealth Bank of Australia (ASX: CBA)

Another note out of Macquarie reveals that its analysts have retained their underperform rating and $90.00 price target on this banking giant's shares. Macquarie believes that Australian banks are likely outperform the broader market in the early stages of the Reserve Bank's rate rising cycle. This is despite risks to the global economy stemming from Russia's invasion of Ukraine. However, it believes other banks are better placed to experience margin benefits and continues to see CBA's shares as expensive. The CBA share price was fetching $99.38 at Friday's close.

Fortescue Metals Group Limited (ASX: FMG)

Analysts at Citi have retained their sell rating and cut their price target on this iron ore miner's shares to $16.00. While the broker acknowledges that iron ore prices are likely to remain strong in 2022, it isn't enough for a more positive view. Particularly given Citi's concerns over the company's Fortescue Future Industries business. The Fortescue share price ended the week at $18.23.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns and has recommended Appen Ltd. The Motley Fool Australia owns and has recommended Appen Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Broker Notes

A female ASX investor looks through a magnifying glass that enlarges her eye and holds her hand to her face with her mouth open as if looking at something of great interest or surprise.
Broker Notes

Top brokers name 3 ASX shares to buy next week

Brokers gave buy ratings to these ASX shares last week. Why are they bullish?

Read more »

A smiling businessman in the city looks at his phone and punches the air in celebration of good news.
Broker Notes

These ASX 200 shares could rise 50% to 60%

Brokers believe these shares could deliver big returns for investors.

Read more »

Broker written in white with a man drawing a yellow underline.
Broker Notes

Brokers name 3 ASX shares to buy today

Here's why brokers are feeling bullish about these three shares this week.

Read more »

Woman with a scared look has hands on her face.
Broker Notes

Bapcor shares fell more than 30% yesterday. Should investors buy in the dip?

Is this a value opportunity?

Read more »

A man sits thoughtfully on the couch with a laptop on his lap.
Broker Notes

Broker raises price targets on 2 ASX 200 shares to buy

Ord Minnett has just upped its 12-month share price targets on 2 buy-rated ASX 200 stocks.

Read more »

Man drawing an upward line on a bar graph symbolising a rising share price.
Broker Notes

Morgans says these ASX can rise 30% to 50%

The broker has good things to say about these shares.

Read more »

Two businessmen look out at the city from the top of a tall building.
Broker Notes

2 ASX REITs to buy in July: expert

Is it time to consider ASX REITs?

Read more »

Delighted adult man, working on a company slogan, on his laptop.
Broker Notes

Broker tips 20% upside for these ASX utilities shares

Bell Potter sees upside in these two shares.

Read more »