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Using ballistic NEGF-based transport simulations, we project the maximum performance achievable with monolayer MoS2 transistors. Our simulations show that these devices can provide (i) excellent switching behavior with very high ON current, (ii) a gmof about 3 mS/μm, and (iii) immunity to short channel effects thanks to the electrostatistically efficient 2-D geometry. We have also investigated the effect of underlap, barrier height and contact resistance on the device performance. We note that while these numbers are representative of the best performance MoS2 transistors can offer, the fact that they are significantly better than those for either state-of-the-art silicon, III-V or graphene makes MoS2 devices promising for future electronic applications.