Iff you believe the reported forward P/E ratios. Per Sat WSJ, the trailing ratio is 18.5 while the forward ratio estimated to be 14.25. So the denominator (earnings) has to increase 24%!!
More likely scenario - earnings wont come close to increase by 24%. In next quarter sequestration related slowdown expected to impact earnings negatively.
We all know what haapens when earnings don’t meet (lofty) expectations.