UPDATE: Wunderlich Securities Raises Price Target on Noble Energy to $129

According to Wunderlich Securities, Noble Energy

price target is raised to $129. Wunderlich Securities said that Noble Energy (

) grew 2011 proved reserves by 11% to 1.2 billion boe with 120 MMboe of additions from the Marcellus JV and the horizontal Niobrara Play in the DJ basin. International additions were 78 MMboe driven primarily by Tamar. “We like NBL's diversified portfolio and we reiterate our Buy rating on this large-cap growth name.” Noble Energy closed yesterday at $103.53.