UPDATE 1-Bernstein raises price target on 3 European automakers

Newswire

Aug 25 (Reuters) - Bernstein research raised the price target on European automakers Daimler AG , Fiat SPA and Renault SA , saying the sector has rebounded dramatically from its early first-quarter trough as it has become clear that liquidity concerns can be put behind and the companies have a viable future. "For the sector to have further upside, we need some conviction that the European autos can haul themselves back towards mid-cycle margins in the next few years," Analyst Max Warburton ...

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