merrills report, page-17

When a broker made a 3.48 price target of this stock a few months ago (i can't remember the name of the broker) there was one poster who said that 3.48 can only be achieved only 2011. This poster had, what seemed to be valid reasoning’s for his post.

In light of this poster and the broker report how did Merrill come and say it is worth $5?

Has the price of Iron ore gone up over night?

I am genuinely interested in how these 2 reports differ markedly and also the timing difference in price target achievement