02/07/2008 23:09. LONDON, Jul 02, 2008 (Thomson Financial via COMTEX) -- RNSDF | Quote | Chart | News | PowerRating -- Citigroup reviewed the European Auto Manufacturers sector Wednesday morning, upgrading Renault SA to 'buy' from 'hold', albeit with a reduced price target of 66 euros from 70, according to dealers.

Citigroup also reduced a number of price targets in the sector, with BMW's target falling to 33 euros from 38 euros, Daimler AG to 55 euros from 68, Fiat SPA at 15 euros from 21, Peugeot SA. to 36 euros from 50 and Porsche AG cut to 90 euros from 110 euros.

After a brilliant 2007, and decent first quarter 2008, faith in auto earnings numbers has collapsed as a consumer recession is feared, the broker said.

Citigroup said in a research note it believes the problems are compounded by... // Trading Markets