Business
Top brokers name 3 ASX shares to sell next week 20 December 2020
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 caught my eye are summarised below. Here’s why top brokers think investors ought to sell these shares next week:
According to a note out of UBS, its analysts have downgraded this energy retailer’s shares to a sell rating and cut the price target on them to $12.25. The broker believes that AGL is going to experience a sustained reduction in its earnings over the coming years. This is due to margin pressure from softening wholesale electricity prices and the push towards renewable energy. UBS notes that the majority of AGL’s electricity generation is powered by coal. The AGL…
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