On Monday I looked at three ASX shares that were given ratings by leading brokers this week.
Unfortunately, not all shares are in favor with brokers right now. The three shares listed below have all given sales ratings. Here’s why they are bearish on them:
Coca-Cola Amatil Ltd (ASX: CCL)
According to a note out of Credit Suisse, its analysts have retained their underperform rating and $ 8.90 price target on this beverage company’s shares. The broker has held firm with its bearish stance after its research showed that Australian beverage volumes remain subdued and competition is still strong. In light of this, it doesn't believe the local segment will deliver growth this year. The Coca-Cola Amatil share price is up 1% to $ 10.38 on Tuesday.
Commonwealth Bank of Australia (ASX: CBA)
Analysts at Citi have downgraded this banking giant's shares a sell rating from neutral, but lifted the price target on them to $ 73.25. According to the note, the broker believes that trading conditions are challenging for the momentary cash falling rate. And it does not stand out from its strong share price in 2019. Citi believes its shares are fully priced and better value can be found elsewhere. CBA's shares are down over 0.5% to $ 80.70 today.
Suncorp Group Ltd (ASX: SUN)
A note out of the Macquarie equities desk reveals that its analysts have retained their underperform rating and $ 12.80 target price on this insurance and banking giant’s shares. According to the notes, the broker continues to believe that it will be able to achieve its cash. Suncorp’s shares are trading flat at $ 13.41 today.
Those may be the shares to sell, but here are the shares that have been rated as buys,
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Coca-Cola Amatil Limited. We can not believe all the opinions, but we believe that considering different ranges of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorized by Scott Phillips.
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