Gilford Securities Upgrades Horizon Technology Finance (HRZN) to Buy, Discount to NAV

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Gilford Securities upgraded Horizon Technology Finance (NASDAQ: HRZN) from Hold to Buy with a price target of $16.25.

The firm notes HRZN is now trading at a 11% discount to the current NAV of $16.41 per share, and a 8% discount to their $15.85 per share estimate of the NAV when Undistributed Capital Gains are all used up and the dividend potentially gets reset.

"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%."

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 $15.02 yesterday, with a 52 week range of $14.79-$18.17.

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