UPDATE: Citigroup Upgrades CSR Plc to Neutral Following Samsung Deal

Citigroup increased its rating on CSR Plc CSRE from Sell to Hold as the company executes a sale with Samsung. Citigroup noted, "Our negative stance on CSR so far was predicated upon headwinds in some of its end-market segments, with the most severe one being handset connectivity. With CSR executing a smart sale of this troubled business to Samsung and looking to return net proceeds to shareholders, we believe the risk-reward profile no longer justifies a negative stance, and we move to a Neutral rating from Sell." CSR Plc closed at $20.06 on Monday.