UPDATE: Stifel Nicolaus Downgrades Horizon Technology Finance to Hold - Horizon Tech Finance (NASDAQ:HRZN)

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Stifel Nicolaus lowers its rating on Horizon Technology Finance (NASDAQ: 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 $16.50target 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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