So the 25% downside target was solidly beaten, and the 45% upside targets were slightly missed. That certainly doesn't seem like a dramatically bad report.
That said, the drama is all about forward momentum (as expected). If 2012 remains a modest growth to $2.50 per share (vs $2.34 2011 and $1.39 2010) then $40ish as a price target is perfectly reasonable after multiple contraction. That doesn't imply much move from here in either direction.