UPDATE: Gilford Securities Upgrades Horizon Technology Finance to Buy on Yield and Capital Gain Outlook
Gilford Securities raised its rating on Horizon Technology Finance (NASDAQ: HRZN) from Hold to Buy.
Gilford Securities commented, “In our estimation, if the dividend is reset at approximately $0.37-$0.40 per share, the current yield of HRZN would still be a very competitive $10%-10.8%. Thus we now believe that the shares have 10% income potential and 10% capital gains potential given our $16.25 per share price target. This warrants raising the rating from Hold to a Buy Rating. As investors can see in the chart below, investing in HRZN at a 10% discount to NAV has been rewarding over the long term."
Horizon Technology Finance closed at $14.60 on Thursday.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.