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Yesterday I looked at three ASX shares brokers have given buy ratings to this week.
Unfortunately, not all shares are in favour with them right now. Three ASX shares that have just been given sell ratings by brokers are listed below. Here’s why these brokers are bearish on them:
According to a note out of
Citi, its analysts have retained their
sell rating and $6.05 price target on this infant formula company’s shares. Although the broker acknowledges that China’s new three-child policy will be a positive for the infant formula market, it doesn’t believe investors should get overly excited. This is because it believes the birth increases are likely to be occurring in lower tier cities. These are areas that Chinese infant formula producers generally have stronger market positions. The A2 Milk share price is fetching $6.93 on Thursday.
Image Source: Getty Images
Respected fund manager Wilson Asset Management (WAM) has recently identified two ASX shares that it owns in its portfolio.
WAM operates several listed investment companies (LICs). Two of those LICs are
WAM Capital Limited (ASX: WAM) and
WAM Leaders Ltd (ASX: WLE).
There’s also one called
WAM Active Limited (ASX: WAA) which looks at businesses it thinks are the most undervalued.
WAM says WAM Active invests in market mispricing opportunities in the Australian market.
The WAM Active portfolio has delivered gross returns (that’s before fees, expenses and taxes) of 12.1% per annum since inception in January 2008, which is superior to the Bloomberg AusBond Bank Bill Index return per annum of 3%.