Epstein Secrets

ission in Hong Kong. Korea: J.P. Morgan Securities (Far East) Ltd, Seoul Branch, is regulated by the Korea Financial Supervisory Service. Australia: J.P. Morgan Australia Limited (JPMAL) (ABN 52 002 888 01 I/AFS Licence No: 238188) is regulated by ASIC and J.P. Morgan Securities Australia Limited (JPMSAL) (ABN 61 003 245 234/

Jun) 0.73 0.91 0.91 1.22 1.24 03 (Sep) 0.83 1.13 1.13 1.32 1.35 04 (Dec) 0.93 1.18 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

ission in Hong Kong. Korea: J.P. Morgan Securities (Far East) Ltd, Seoul Branch. is regulated by the Korea Financial Supervisory Service. Australia: J.P. Morgan Australia Limited (.1PMAL) (ABN 52 002 888 01 I/AFS Licence No: 238188) is regulated by ASIC and J.P. Morgan Securities Australia Limited (JPMSAL) (ABN 61 003 245 234

) 144.57-87.20 04 (Dec) - - 1.88 2.02 2.18 Market Cap (S mn) 100,467.50 FY 5.74 5.88 7.08 7.55 7.90 8.20 8.60 Shares 0/S (mn) 769 Bloomberg EPS FY (5) 4.51 5.01 6.74 - 7.32 - 8.17 Source: Company data, Bloomberg. M. Morgan estimates. Our EPS estimates for Boeing are consistent with the

ission in Hong Kong. Korea: J.P. Morgan Securities (Far East) Ltd, Seoul Branch. is regulated by the Korea Financial Supervisory Service. Australia: J.P. Morgan Australia Limited (JPMAL) (ABN 52 002 888 01 I/AFS Licence No: 238188) is regulated by ASIC and J.P. Morgan Securities Australia Limited (JPMSAL) (ABN 61 003 245 234/

0.16A O2 (Jun) 0.94 0.50 0.59 0.61 O3 (Sep) 1.46 1.48 1.82 1.84 04 (Dec) (0.07) 0.15 0.27 0.25 FY 2.44 2.20 2.74 2.87 3.55 3.71 Bloomberg EPS FY ($) 2.42 2.17 - 2.71 - 3.46 Source: Company data. Bloomberg. J.P. Morgan estimates. 13kamberg' above denotes Bloomberg consensus estmates. S