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Canaccord Genuity has raised its recommendation for Cambridge-based biotech firm Abcam to “hold” from “sell”. Analyst Julie Simmonds cited “a combination of a fall in share price and positive commentary on market conditions from peers.”
Berenberg has downgraded Surrey-based insurer Esure Group to a “hold” from a “buy” rating. Analyst Sami Taipalus said in a note he was “concerned that the recent stabilisation in UK motor rates has been overplayed, and 2015-16 underwriting margins will disappoint”.
Numis has retained its “hold” recommendation for Michael Spencer’s interdealer broker ICAP despite upgrading the target price from 370p to 420p after the company’s fine by the European Commission was below expectations. “The stated £11.3m fine is still notably below our conservative reserve of £60m,” said analyst Jonathan Goslin.