Fiat to look at raising 08 targets - CEO

By Gianni Montani and Stefan Rebaudo

TURIN, Italy (Reuters) - Italian industrial group Fiat confirmed on Monday its aim to post a higher profit this year, and said it would look at whether to raise the target in the second or third quarter, sending its share higher.

"All the targets fixed for 2008 are confirmed," Chief Executive Sergio Marchionne told a news conference after the annual meeting for shareholders.

"I don't have the slightest intention of raising targets in the first quarter," he said. "We'll see what we can do in the second and third quarters."

Fiat shares ended 3.14 percent higher at 14.63 euros, outperforming the DJ Stoxx index of auto sector index, which was last quoted down 0.07 percent.

"The latest comments from Marchionne have certainly helped (the share price)," said one dealer.

Marchionne said the targets were based on the view that turmoil in financial markets would have a limited impact on the economy, adding that there was "little likelihood" of a big drop in consumer spending as a result of it.

If spending were to drop, "Fiat thinks it can fully sustain the financial impact ... even if it means a reduction in operating performance and margins," he said.

Fiat, which competes with France's Renault for fifth place in Europe by autos market share, is aiming for a higher trading profit of up to 3.6 billion euros ($5.68 billion) this year against 3.23 billion euros in 2007.