I am an ETN holder who has a positive outlook as well, but I do not see how you can predict $120 per share this year. That may well be achievable in a two year horizon, though. A day too late, FBR raised one year price target to $106 from $104. The wuss analyst raised his 2008 EPS all the way from $7.90 to $7.95, but at least raised his 2009 EPS by $0.30.
Why is $120 so unbelievable? If companies like JBHT and WMT can be at or near all time highs then surely ETN can do the same. Also don't forget, with high inflation $120 for a soveriegn fund is the new $90.