UPDATE 2-Volkswagen says to meet pretax target a year early

Newswire

(Adds analyst comments, details) By Christiaan Hetzner FRANKFURT, July 27 (Reuters) - Volkswagen will meet its 2008 pretax profit target of 5.1 billion euros ($7 billion) a year earlier than planned as cost cuts boost results, the group said on Friday, sending its shares sharply higher. After reporting second-quarter operating profit surged to 1.74 billion euros, far better than analysts expected, Volkswagen said it would "significantly" exceed in 2007 the previous year's figure before ...

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