UPDATE: Jefferies Starts Hercules Technology Growth Capital (HTGC) at Buy

Jefferies initiated coverage on Hercules Technology Growth Capital (NYSE: HTGC) with a Buy rating and a price target of $14.00, saying the company is on the cusp of another growth cycle.

Analyst John Hecht commented, "We are initiating on HTGC with a Buy rating and a $14 price target. We highlight HTGC's dominant positioning in venture lending - a position which is supported and bolstered by industry tenure, balance sheet strength and astute credit management. These advantages, along with a hefty amount of available liquidity should enable HTGC to aggressively grow its balance sheet in the coming quarters, which we expect will result in rapidly growing earnings."

For an analyst ratings summary and ratings history on Hercules Technology Growth Capital click here. For more ratings news on Hercules Technology Growth Capital click here.

Shares of Hercules Technology Growth Capital closed at $11.64 yesterday.

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