UPDATE: Dahlman Rose Reiterates Buy Rating, Raises PT on Chevron Corporation

In a report published Monday, Dahlman Rose reiterated its Buy rating on Chevron Corporation

, and raised its price target from $120.00 to $129.00. Dahlman Rose noted, “CVX 4Q12 EPS was slightly below expectations. While progress is being made in major capital projects and the company continues to demonstrate industry leading upstream profitability, we were disappointed by delays in Brazil and Angola. We are raising our PT to $129 (from $120).” Chevron Corporation closed on Friday at $116.50.