RBC CM Preview of National Bank Q3 2006 Earnings

RBC Capital Markets, 18 August 2006EventNational Bank reports Q3/06 earnings on August 31.Investment Opinion� Looking for Above-Consensus Q3/06. Our cash EPS estimate of $1.25 is 1� above the Thomson First Call mean estimate of $1.24, and indicated up 6% YoY (2% QoQ).� Strong Earnings Outlook and Quality. Last quarter, we upgraded our outlook for National based on (i) evidence of an extended