UK's Capita rises after RBC upgrades to 'outperform'

Shares of British outsourcing firm Capita CPI.L up as much as 5.1% at 14.42p

RBC Capital market upgrades CPI to "outperform" from "sector perform", raises PT to 20p from 17p

Brokerage cites favorable risk-reward on the stock and Capita nearing its FCF positive as key drivers for the upgrade

RBC also sees the pensions solutions business making more money than expected as a positive for Capita

Three of five brokerages rate the stock "buy" or higher, and 2 "hold"; their median PT is 22.5p -LSEG

Stock down 2.14% so far this year