UPDATE 4-Renault ups 2004 target as profits speed ahead


(Adds analyst comment paragraph 14, updates shares) By Rebecca Harrison PARIS, July 28 (Reuters) - French auto maker Renault raised its 2004 profit target on Wednesday, emboldened by better-than-expected first-half results as motorists snapped up its Megane cars and it made money outside western Europe. Europe's fourth-biggest carmaker lifted its full-year operating margin target by one point to 5.5 percent of sales, up from 3.7 percent in 2003, based on current exchange rates, and ...

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