Wells Fargo Starts Horizon Technology Finance (HRZN) at Outperform, $20-$21 Valuation Range

Wells Fargo initiates coverage on shares of Horizon Technology Finance (NASDAQ: HRZN) with an Outperform rating and a $20-$21 valuation range.

The firm placed an Outperform rating on the shares due to the company's strong expected earnings in 2011 and 2012, its continuous dividend ramp up, ability to leverage the balance sheet via SBIC, and its solid credit quality.

Wells Fargo's current 2011 and 2012 EPS estimates are $1.48 and $1.70.

For more ratings news on Horizon Technology Finance click here and for the rating history of Horizon Technology Finance click here.

Shares of Horizon Technology Finance closed at $15.82 yesterday.

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