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an-expected recovery in petrochemicals prices, delays in the ramp-up of newly established subsidiaries, or weakness in steel demand in Saudi Arabia. Saudi Telecom Company (STC) (XUTUF) We derive our SAR81/share PO for STC on a sum of the parts basis, using a combination of DCF and market valuations for its core subsid
Page: HOUSE_OVERSIGHT_016190 →Pierce, Fenner & Smith Incorporated
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Merrill Lynch Global Wealth Management
OrganizationInvestment management and financial planning service

Merrill Lynch
OrganizationAmerican investing and wealth management division of Bank of America
The Financial Service Board
OrganizationMerrill Lynch International
OrganizationMerrill Lynch Equities (Australia) Limited
Organizationthe Australian Securities and Investments Commission
Organizationthe Hong Kong Securities and Futures Commission
OrganizationMerrill Lynch Canada Inc
Organizationthe Investment Industry Regulatory Organization of Canada
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the Financial Services Agency
Organizationthe Securities and Futures Bureau
OrganizationDSP Merrill Lynch Limited
Organizationthe Securities and Exchange Board of India
Organizationthe Dubai Financial Services Authority
OrganizationComisién Nacional del Mercado De Valores
OrganizationBank of America Merrill Lynch Banco Multiplo S.A.
OrganizationComissdo de Valores Mobiliarios
OrganizationMerrill Lynch KSA Company
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