Blackmont Capital Initiates Coverage of Banks

� Bank of Montreal (good progress on costs. next up? revenues) was rated new "hold." The 12-month price target is C$71.00.� Bank of Nova Scotia (internationally diversified, high relative operating efficiency) was rated new "buy." The price target is C$55.00.� CIBC (rebuild well underway) was rated new "hold." The 12-month price target is C$88.00.� National Bank of Canada (solid performer with