Coverage of hospitality company Hilton Worldwide Holdings Inc (NYSE:HLT) has been initiated by analysts at JMP Securities with an outperform rating and a price target of $30 a share. The price target on the stock marks a potential upside of 25% from its Wednesday closing price. Hilton Worldwide Holdings Inc (HLT) is trading between a 52-week range of $20.55-25.95.XOMA Corp (NASDAQ:XOMA), a developer of therapeutic antibodies, said Thursday it has initiated dosing in its Phase 1 study exploring the safety and tolerability of single intravenous doses of XOMA 358, the lead compound from its XMetD program, in healthy volunteers. The study also will explore the biologic effects of ascending single IV doses of XOMA 358, an antibody that reduces both the binding of insulin to its receptor and downstream insulin signaling, on glucose and insulin levels as well as insulin sensitivity. XOMA Corp (XOMA) is trading between a 52-week range of $3.42-9.57.China Digital TV Holding Co., Ltd.(ADR) (NYSE:STV) shares rose Thursday, after the provider of conditional access systems to China's digital-television market said following further discussions, the parties involved in its asset restructuring have agreed to amend the restructuring originally contemplated, including an agreement for Tongda Venture to acquire 100% equity interest in Beijing Super TV Co., a wholly owned subsidiary of China Digital TV's Golden Benefit, for a preliminarily determined 3.2 billion yuan (US$520 million). Under the terms, China Digital TV's Golden Benefit Technology subsidiary has entered into an amendment to the framework agreement, a share-transfer agreement, a share-subscription agreement as well as a profit-compensation agreement with Shanghai Tongda Venture Capital and/or its controlling shareholder, Cinda Investment Co., to implement the restructuring as amended.Under the share-transfer agreement, Tongda Venture has agreed to acquire the 100% equity interest in Beijing Super TV Co., a wholly owned subsidiary of Golden Benefit, for a preliminarily determined 3.2 billion yuan (US$520 million). The final value will be further discussed and agreed upon by the parties based on a valuation of Super TV to be conducted by an independent third-party asset valuation agency. In exchange, Tongda Venture agreed, pursuant to the share-subscription agreement, to issue to Golden Benefit RMB800 million in new shares of Tongda Venture at a price of RMB10.35 per share, and pay Golden Benefit the remaining consideration in cash. As a result, Golden Benefit is expected to hold approximately 17.24% of the share capital of Tongda Venture following the completion of the restructuring. The consideration shares will be subject to a 36-month lock-up period.China Digital TV Holding Co., Ltd. (STV) is trading between a 52-week range of $1.60-5.00.
Discover Hidden Gems
Don't miss the next big opportunity. Subscribe for timely alerts on potential market movers.
