Broker Notes: Why analysts name Xero to sell now?

$Xero Ltd(XRO.AU)$: UBS maintains a sell rating on the stock and cuts the stock's target price by 20% to A$70.00.
Xero's valuation still looks stretched to UBS analyst Tom Beadle, despite the sell-off that followed the cloud-accounting software provider's FY 2022 results. He says in a note that he still sees favorable structural tailwinds for Xero, but that a lack of cashflow makes a discounted cashflow valuation seem challenging.
Shares are 1.78% lower at A$86.315.

$Incitec Pivot Ltd(IPL.AU)$: Jefferies downgrades Incitec to hold from buy with target price of A$4.10 .
While concluding there is a lot to like about fertilizer and explosives maker Incitec Pivot, Jefferies thinks the stock has run too hard for now.
Shares are 0.76% lower at A$3.9.

$Charter Hall Group(CHC.AU)$: Morgan Stanleymaintains a equal-weight call on the stock.
Charter Hall is down 37% since the start of January, and more than 20% in the current quarter so far, but the stock's valuation isn't attractive enough to tempt Morgan Stanley to change its equal-weight call.
Shares are 1.06% lower at A$13.01.