Business
These are the latest ASX shares to be downgraded by brokers today
Our market may have bouncing from yesterday’s sell-off, but there are some ASX shares that are left behind after getting downgraded by leading brokers.
The S&P/ASX 200 Index (Index:^AXJO) jumped 0.5% in after lunch trade with most sectors apart from Energy gaining ground.
But the optimism failed to reach the A2 Milk Company Ltd (ASX: A2M) share price after Morgans cut its rating on its shares.
Left on the shelf
The broker did a channel check and doesn’t believe the milk products company’s sales have improved materially.
“E-commerce platform pricing in China doesn’t appear to be materially improving,” said Morgans.
“And in Australia we have noticed that the retailers and pharmacies are discounting stock to clear aging…
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