RESEARCH ALERT-HVB cuts Volkswagen target to 29 euros


FRANKFURT, Sept 28 (Reuters) - HVB Equity Research cut its price target for shares in car maker Volkswagen AG to 29 euros from 34 on Tuesday but kept its "neutral" rating for stock in Europe's biggest carmaker. In a note to clients, it also reduced its earnings per share target for 2004 by around 19 percent to 1.10 euro and for 2005 by 4 percent to 2.50 euros, citing intensified competitive pressure and lower expectations for earnings in China. Volkswagen stock eased 0.2 percent to 31.00 ...

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