National Bank of Canada Q3 2006 Earnings

The Globe and Mail, Carolyn Leitch, 5 September 2006Rich valuations on bank stocks and a gloomier profit picture have prompted Merrill Lynch Canada Inc. analyst Andr�-Philippe Hardy to cut his rating on National Bank of Canada to "neutral" from "buy."Mr. Hardy also lowered his estimate for National Bank's profit in 2007 to $5.30 a share from his previous forecast of $5.40.The analyst says