National Bank Q1 2007 Earnings

TD Newcrest, 2 March 2007EventNA reported EPS of $1.43, beating our estimate of $1.37 and consensus of $1.33, up from $1.31 in Q4/06 and $1.26 in Q1/06. Strong results were recorded in higher valuation multiple retail and wealth management businesses.ImpactPositive. We are maintaining our BUY recommendation, and increasing our target price to $73.00 from $71.00. Our 2007 and 2008 EPS estimates