yeah right........

Goldman Sachs JBWere has a share price target of $40.14 a share on BHP Billiton and a target of $53.31 on Rio Tinto.

Merrill Lynch analysts also have a buy recommendation on BHP Billiton, with a share price target of $40 a share.

"We see a 47 per cent upside potential from (the) current price of $27.25," they said in client note.

"In a weak economic environment, BHP's lower operational and financial leverage should result in the shares outperforming those of higher cost, more financially geared peers."

So $40 is what, about $5 less than the rio bid. BHP was at $45 before the RIO bid.

So basically what they are saying is that even with commodity prices falling BIG time, mine closures coming if they become cash flow negative i.e. less output + less sold at a much lower price = less profit. They reckon BHP is still worth 5% of their high this time last year????? Cloud cuckoo land.