BUZZ-Capita: Exane BNP Paribas cuts to underperform
** Outsourcing group Capita (LSE: CPI.L - news) 's shares down 1.6 pct, bottom of the FTSE, after Exane BNP Paribas cuts to "underperform" from "neutral", PT of 1050p
** Exane analysts say earnings quality has remained weak, on- and off-balance sheet liabilities have continued to rise
** Analysts add that while co trades at a P/E discount to other growth stocks in sector, it trades at an EV/unlevered FCF premium to most stocks
** Shares (Berlin: DI6.BE - news) among bottom five losers on the Stoxx 600 , and worst performing on Stoxx 600 Industrial Goods and Services Index (venkateshasoumithri.mamidipudi.thomsonreuters.com@reuters.net)