BEST of the BROKERS

CSR
UBS has downgraded the chipmaker from buy to neutral with a target price of 310p after it sold its handset business to Samsung. UBS says the move cements CSR’s position as a niche platform player.

SAGE
Merchant Securities has downgraded the software group from “buy” to “hold” with a target price of 280p after an investor day and a disappointing management update. The broker says Sage is now underperforming in 2012.

OPTOS
N+1 Brewin has moved the medical technology firm from “hold” to “reduce” with a target price of 172p, saying a subdued third quarter leaves little room for enthusiasm and much to prove.