STOCKS NEWS EUROPE-Goldman bullish note boosts autos

Shares in European automakers rise in a downward market .FTEU3, boosted by a bullish note from Goldman Sachs, which reiterates its attractive coverage view on the sector and raises its price targets on a number of stocks.

Volkswagen (VOWG.DE) gains 0.9 percent, Renault (RENA.PA) rises 2.5 percent, Porsche (PSHG_p.DE) adds 2.1 percent and Fiat (FIA.MI) climbs 0.6 percent.

"Despite a track record of underperformance, the automotive sector has provided investors with significant annual performance opportunities," Goldman Sachs writes in a note.

The broker has identified Toyota (7203.T), Volkswagen, Fiat, Hyundai (005380.KS) and Honda (7267.T) as "long-term industrial winners within global autos".

"We view VW as structurally well positioned within the global automotive industry," the broker says, restarting its rating on the German carmaker with a "buy" recommendation.

Reuters Messaging rm://michel.rose.reuters.com@reuters.net