UPDATE 1-France leads European shares to 3rd straight week of gains
* FTSEurofirst up 0.3 pct, CAC hits highest since 2008
* Technip, Saint-Gobain enjoy upgrades following results
* French index reverses last year's underperformance
* Vodafone adds most points after Verizon deal completed
By Alistair Smout
LONDON, Feb 21 (Reuters) - France's CAC 40 index hit a 5-1/2-year peak to lead European shares higher on Friday, with an index of top shares in the region posting its third straight week of gains.
French-listed oil services group Technip and construction firm Saint-Gobain rose 2.5 percent and 3.8 percent respectively, buoyed as banks lifted their target prices for the stocks after they reported results earlier in the week.
Saint-Gobain is now up by around 4 percent since reporting a sales and profit drop on Wednesday, with Berenberg describing the results as "solid" and the outlook as optimistic.
That continued a recent trend of French companies delivering decent profits and better outlooks, in contrast to last year, when a weak economy hit earnings and caused the CAC to underperform. Continuación...