Problem with iSCSI over localhost

Hello everyone,

I'm presently trying to get stgt (v1.0.46) and open-iscsi (v6.2.0-873)
to play nice together over localhost using an off port.  I have stgt
configured to bind to 127.0.0.1 on port 40960:

tcp        0      0 127.0.0.1:40960             0.0.0.0:*
    LISTEN      1700/tgtd

I can successfully connect with netcat to this IP and port, and I also
flushed the firewall rules for good measure.  Here is my target.conf:

[root@localhost developer]# cat /etc/tgt/conf.d/mytarget.conf
<target iqn.2014-04.woot.ventureindustries:san.target01>
backing-store /dev/sdb
</target>

When I use iscsiadm to list the targets I get the following:

[root@localhost developer]# iscsiadm --mode discovery -t sendtarget -p
127.0.0.1:40960
# BEGIN RECORD 6.2.0-873.10.el6
discovery.startup = manual
discovery.type = sendtargets
discovery.sendtargets.address = 127.0.0.1
discovery.sendtargets.port = 40960
discovery.sendtargets.auth.authmethod = None
discovery.sendtargets.auth.username = <empty>
discovery.sendtargets.auth.password = <empty>
discovery.sendtargets.auth.username_in = <empty>
discovery.sendtargets.auth.password_in = <empty>
discovery.sendtargets.timeo.login_timeout = 15
discovery.sendtargets.use_discoveryd = No
discovery.sendtargets.discoveryd_poll_inval = 30
discovery.sendtargets.reopen_max = 5
discovery.sendtargets.timeo.auth_timeout = 45
discovery.sendtargets.timeo.active_timeout = 30
discovery.sendtargets.iscsi.MaxRecvDataSegmentLength = 32768
# END RECORD

When I try to log into the target it fails.

iscsiadm --mode node --targetname
iqn.2014-04.woot.ventureindustries:san.target01 --login

Here are the messages I get from /var/log/messages:

Apr  8 19:54:56 localhost iscsid: cannot make a connection to
127.0.0.1:40960 (-1,13)
Apr  8 19:55:49 localhost iscsid: Connection-1:0 to [target:
iqn.2014-04.woot.ventureindustries:san.target01, portal:
127.0.0.1,40960] through [iface: default] is shutdown.

I also ran tcpdump -vvv -i lo and I see my netcat traffic, but I never
see anything when I kick this off.

Any ideas what may be going wrong here?

Thanks in advanced!

-- 
Steven Graf
President
Resolutech, LLC