Q: Hey, Peter.
I'm thinking about starting a position in National Bank (NA). It looks like it is by far the "cheapest" of the Canadian banks. I see that it is expected to make $8.61 per share in 2014. It is unrealistic to expect it to trade at a 9.5 2014 p/e multiple giving it a rough share price of $81.80 (representing a 10%+ capital gain)?
I'm thinking about starting a position in National Bank (NA). It looks like it is by far the "cheapest" of the Canadian banks. I see that it is expected to make $8.61 per share in 2014. It is unrealistic to expect it to trade at a 9.5 2014 p/e multiple giving it a rough share price of $81.80 (representing a 10%+ capital gain)?