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Stifel Nicolaus lowers its rating on Horizon Technology Finance
HRZN on valuation as shares exceed now-discontinued target price of $16.50.
Stifel Nicolaus says, "The shares of Horizon Technology Finance (
HRZN) have exceeded our $16.50
target price (currently at $16.74) and we are downgrading the shares from Buy to Hold. We continue to have a high degree of confidence in the company, the business model, and the 10.8% dividend yield; however, we now recommend investors Hold the shares for the dividend yield and allocate new investment dollars to higher return names."
HRZN closed at $16.74 a share yesterday.
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