UPDATE 2-Michelin ups margin goal, sets shares on a roll

Newswire

(Adds analyst comment, background) By Jean-Michel Belot PARIS, July 30 (Reuters) - French tyre maker Michelin raised its operating margin target for 2002 on Tuesday as it posted better than expected first-half profits, sending its shares up over five percent in early trading. Europe's largest tyre manufacturer said net profit fell 31 percent to 254.1 million euros for the first six months of 2002, but that drop was entirely attributable to a large capital gain which inflated last ...

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