UPDATE 2-Honda lifts outlook on surprise Q1 profit, cost cuts


* Q1 op profit 25.2 bln yn vs consensus f'cast loss 106 bln * Annual forecast raised, Japan and China sales improve * Investors looking for recovery in U.S. market * Shares end up 1.1 percent before results (Updates with more details, comments) By Chang-Ran Kim, Asia autos correspondent TOKYO, July 29 (Reuters) - Honda Motor Co , Japan's No.2 automaker, lifted its annual forecasts after posting a surprise first-quarter profit, but the boost came from cost reductions and executives ...

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