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nd the Prudential Regulation Authority. Registered in England & Wales No. 2711006. Registered Office 25 Bank Street, London, El4 5.1P. South Africa: J.P. Morgan Equities South Africa Proprietary Limited is a member of the Johannesburg Securities Exchange and is regulated by the Financial Services Board. Hong Kong: J.P. Morgan Securities (Asia Pacifi
18 O4 (Dec) 0.55 1.63 FY 2.05 5.61 6.52 7.54 Bloomberg EPS FY ($1 2.00 6.05 7.60 8.67 Source: Company On. Bloomberg. Morgan eabmates. North America Equity Research 22 May 2014 Overweight mum ►aces ua GILD, GILD US Price: $81.81 Price Target: $100.00 US Biotechnology AC Geoff Meacham Bloomberg JPMA AI
and the Prudential Regulation Authority. Registered in England & Wales No. 2711006. Registered Office 25 Bank Street. London. El4 5JP. South Africa: J.P. Morgan Equities South Africa Proprietary Limited is a member of the Johannesburg Securities Exchange and is regulated by the Financial Services Board. Hong Kong: J.P. Morgan Securities (Asia Pacifi
tors should consider this report as only a single factor in making their investment decision. www.jpmorganmarkets.com EFTA00301312 Kevin Milota North America Equity Research 13 May 2014 J.P.Morgan Analyst Certification: The research analyst(s) denoted by an "AC" on the cover of this report certifies (or, where multiple
and the Prudential Regulation Authority. Registered in England & Wales No. 2711006. Registered Office 25 Bank Street, London. El4 SIP. South Africa: J.P. Morgan Equities South Africa Proprietary Limited is a member of the Johannesburg Securities Exchange and is regulated by the Financial Services Board. Hong Kong: J.P. Morgan Securities (Asia Pacifi
1.23 1.44 1.48 FY 3.15 3.95 4.00 5.10 5.20 Bloomberg EPS FY (s) 3.10 3.98 5.10 Source: Company data. Bloomberg. J.P. Morgan estimates. North America Equity Research 12 June 2014 Overweight HAL, HAL US Price: $66.94 A Price Target: $78.00 Previous: $77.00 Oil Services and Equipment J. David Anderson, PE, C
and the Prudential Regulation Authority. Registered in England & Wales No. 2711006. Registered Office 25 Bank Street, London. El4 SIP. South Africa: J.P. Morgan Equities South Africa Proprietary Limited is a member of the Johannesburg Securities Exchange and is regulated by the Financial Services Board. Hong Kong: J.P. Morgan Securities (Asia Pacifi
hat could affect the objectivity of this report. Investors should consider this report as only a single factor in making their investment decision. North America Equity Research 08 May 2014 Overweight CAR, CAR US Price: $51.79 A Price Target: $59.00 Previous: $53.00 Leisure Kevin Milota AC Bloomberg JPMA MILOTA <GO>
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