<strong>CADBURY</strong><br />Investec said that Cadbury&rsquo;s interim management statement should be good for valuations of the firm, but that a more contingent approach to the potential end-games leads it to be less bullish overall. The broker decreased its target price for the stock to 840p and downgraded its rating to &ldquo;hold&rdquo;.<br /><br /><strong>BP</strong><br />Citigroup said that, with BP trading on the cusp of our revised 600p target, and given the broker&rsquo;s perception of slowing relative operational momentum, it no longer sees the valuation as sufficiently compelling to retain a &ldquo;buy&rsquo; rating. It downgraded the stock to &ldquo;hold&rdquo; with an increased target price of 575p. It said that Shell and BG are its preferred stocks within the sector.<br /><br /><strong>LAND SECURITIES</strong><br />Deutsche Bank initiated coverage on Land Securities with a &ldquo;buy&rdquo; rating and a target price of 740p, believing that the recent rights issue and disposals have significantly strengthened the firm&rsquo;s balance sheet, with the loan-to-value ration now around 40 per cent. It added that it sees the group&rsquo;s London bias as a positive, although the retail assets are of mixed quality.<br /><br />To appear in Best of the Brokers email your research to <strong><br /></strong>