Business
Top brokers name 3 ASX shares to sell next week 29 November 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:
A note out of Goldman Sachs reveals that its analysts have retained their sell rating and $23.30 price target on this fuel retailer’s shares. According to the note, the broker was surprised to see Ampol, formerly known as Caltex, announce a $300 million share buyback. Given the tough operating environment and its Lynton refinery closure, Goldman was expecting the company to delay any capital returns. While this is a positive for shareholders, it feels its shares…
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