The Motley Fool Australia Stock Market News Top Brokers Name 3 ASX Stocks To Sell Next Week
Once again, a large number of brokerage bills came on the wires last week. Some of these notes were positive and some were bearish.
Three sales reviews that caught my eye are summarized below. Here’s why top brokers think investors should sell these stocks next week:
AGL Energy Limited (ASX: AGL)
According to a statement from Credit Suisse, its analysts have maintained their underperform rating and lowered the price target for the shares of this energy company to USD 9.50. The broker took the move after AGL announced billions in asset impairments last week. A large part of this was attributable to onerous contracts, which mainly related to old purchase agreements for wind farms. The company was also very negative about the outlook for wholesale electricity prices. AGL stock price ended the week at $ 11.39.
Commonwealth Bank of Australia (ASX: CBA)
A note from Morgans shows that its analysts have maintained their downgraded rating and low price target of $ 64.00 on the stocks of this banking giant. The broker believes Commonwealth Bank stocks are overvalued at current levels. With this in mind, they are expected to leave the other big banks behind. Especially when trading conditions are relatively normal again. It believes CBA benefited from the perception that it is the bank with the lowest risk. However, it is believed that soon investors will be paying less attention to risk profiles and paying more attention to valuations. Commonwealth Bank’s share price was last traded at $ 88.64.
Macquarie Group Ltd (ASX: MQG)
Citi analysts have downgraded the shares of this investment bank to a sell rating and lowered their price target to $ 120.00. According to the notice, the broker is a fan of the company and sees opportunities for long-term growth. However, it is believed that the market is expecting too much from the company in the short term. Especially given headwinds from a stronger Australian dollar and low volatility in commodity prices. It also believes that potential tax hikes in the US would be bad news for the bank. Macquarie stock closed the week at $ 134.52.
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If investment expert Scott Phillips has a stock market tip, it can be worth listening. After all, the flagship newsletter Motley Fool Share Advisor, which it has operated for more than eight years, has offered thousands of paying members stock choices that have doubled, tripled, or even more. *
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James Mickleboro, a contributor to the Motley Fool, has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorized by Bruce Jackson.
James Mickleboro has been a Motley Fool employee since late 2015. After studying economics at the University of the UK, James lived in Australia and got a job with an Australian fund manager. This was the beginning of a love affair with Australian stocks and he hasn’t looked back since. James is part of the CFA Institute’s Chartered Financial Analyst program and hopes it will teach him to become a smart investor that will enable him to help others with their own investments. Outside of reading and researching, he spends many late nights watching the English Premier League and Seinfeld reruns.
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|Sr. No.||Name of the company||Market capitalization. (in Cr)|
|1||Hindustan Unilever LTD.||5,36,407|
|2||Tata Consultancy Services LTD.||6,82,389|
|4th||Bajaj Finance LTD.||1,18,549|
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|1||Bajaj Consumer Care||33.76|
|4th||Computer age management||42.47|
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Where should I invest in 2021?
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Which stocks will increase in 2021?
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|Sr. No.||Name of the company||Rating (stars)|
|4th||Jammu and Kashmir Bank||0.50|
Which company share is best?
|3||United Drilling Tools||266.3|
|4th||Hindustan Oil Explora||86.05|
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