Evolution Securities advises investors to “sell” Ericsson because the mobile company’s pricing power is limited by operators. Evolution points out that consolidation has not stemmed industry price pressure and the knock-on effects limit revenue leaving Ericsson trading on what it considers an unjustified premium.

Investec ups Abcam’s target to 1,350p from 1,051p and reiterates its “buy” rating citing the antibody cataloguer’s recent strong interim results. Has calculated that the longer an antibody remains in the catalogue, the more Abcam can charge for them. Also praises its business model, revenue visibility and strong earnings growth.

Standard & Poor’s (S&P) reiterates its “sell” recommendation on Nordic energy group Fortum ahead of its first quarter results. S&P also maintains its 12-month target price of €17. Nordic electricity prices for 2010 are up 30 per cent, but it warns Fortum will miss out on this rally as it has hedged 70 per cent of its expected output.

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