Manulife Financial Q2 2006 Earnings

BMO Capital Markets, 4 August 2006Bearing the Burden of High ExpectationsAt 14.5x 2006E EPS, Manulife trades at a premium to every other large cap financial services company in Canada and its peers in North America. We believe that the premium is justified. We believe that MFC can grow EPS, organically, by roughly 15% annually over the next 3 to 5 years. We also do not believe that there are many