For what it's worth, here's my take:
The entitlement hives you the right to buy an Arrium share for 48c. So they will trade for roughly the difference between 48c and the share price. If ARI is trading at 50c then the entitlements will trade at roughly 2c. So...
You will see a LOT of downward pressure on the SP by institutions wanting to pick up entitlements cheap. If you think you will make money from your entitlements you are deluding yourself.
Once the entitlements are converted to shares at 48c the institutions will want the SP UP so they can get their profits from their positions.
You can't believe anything the brokers publish as targets, or even tell you as a client. The brokers are all either operated or massively influenced by the institutions so they will ramp ARI down while entitlements are trading. Once entitlement trading closes you will start to see some tremendously positive broker forecasts.
This is the kind of stinking, rotten corruption and market manipulation that I'll be trying to trade on.
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