UPDATE: Keefe, Bruyette & Woods Upgrades Hercules Technology Growth Capital to Outperform, Reiterates $17 PT on Recent Price Decline

In a report published Wednesday, Keefe, Bruyette & Woods analyst Greg Mason upgraded the rating on

from Market Perform to Outperform, and reiterated the $17.00 price target. In the report, Keefe, Bruyette & Woods noted, “We are upgrading the shares of HTGC to Outperform and our $17.00 target price is unchanged. HTGC has meaningfully underperformed the BDC group since the exclusion of BDCs from the indexes. This is temporary and we believe the stock is positioned to perform well over the long term and the current price is an attractive entry point. In addition, multiple news sources are reporting that HTGC largest equity investment, BOX is close to launching its IPO. This could result in a nice realized gain if the IPO is successful.” Hercules Technology Growth Capital closed on Tuesday at $14.51.