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:
Commonwealth Bank of Australia (ASX: CBA)
According to a note out of Morgan Stanley, its analysts have retained their underweight rating and $68.50 price target on this banking giant’s shares. Although the broker’s overall view of the major banks has improved, it notes that investors have driven their shares higher in recent weeks. This has particularly been the case for Commonwealth Bank, with its shares now trading well above its estimate for fair value. The broker…