<strong>Cadbury</strong><br />Charles Stanley upgraded Cadbury to “Accumulate” status. The launch of Fair Trade-certified Dairy Milk in the UK and Ireland could result in further share gains which would be a significant hurdle for competitors, it said. The broker also believes Cadbury can achieve its anticipated revenue growth and hit margin targets.<br /><br /><strong>Lancashire</strong><br />Execution Research continues to support insurer Lancashire as a core “Buy”. The broker believes there has been too much “nit picking” running up to results with regards to the company’s Golf of Mexico energy cover, and believes Lancashire has significant ability to offset this among its core property, marine and other energy policies.<br /><br /><strong>Glaxosmithkline</strong><br />Charles Stanley cut estimates on pharmaceutical business GlaxoSmithkline to “Hold”. It said although the company’s ability to deliver pandemic preparations for swine flu and sales of anti-viral Relenza look positive, these factors may be insufficient to counter the negative of margin lost from recent patent losses on key products.