National Securities Starts Horizon Technology Finance (HRZN) at Buy

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National Securities initiated coverage on Horizon Technology Finance (NASDAQ: HRZN) with a Buy rating. Analyst said the company’s venture loan portfolio may generate 12 percent return on equity in 2013. Analysts also like Horizon Technology's stable net asset value and its attractive price/NAV valuation versus peers.

Commenting on the company's portfolio, analyst Boris Pialloux said "We believe that HRZN's high return of equity may be sustainable as venture capital-backed firms turn to venture lending to bridge funding gaps brought by lengthening of time to exit investments through initial public offerings."

For an analyst ratings summary and ratings history on Horizon Technology Finance click here. For more ratings news on Horizon Technology Finance click here.

Shares of Horizon Technology Finance closed at $16.19 yesterday, with a 52 week range of $14.16-$17.31.

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