UPDATE 1-RESEARCH ALERT-Lehman upgrades Volkswagen to "buy"


(Adds details of upgrade in paragraph 2) LONDON, July 31 (Reuters) - Lehman Brothers said on Wednesday it had upgraded Europe's biggest carmaker Volkswagen to "buy" from "market perform", keeping its price target at 62 euros. Lehman brothers said it thought new models would drive an upturn in sales sooner than the market consensus anticipated, and that the management's cut in the 2002 target had allowed the company to focus on 2003. Volkswagen shares climbed 3.11 percent to 48.41 euros ...

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