UPDATE: Gilford Securities Upgrades Horizon Technology Finance to Buy on Yield and Capital Gain Outlook

Gilford Securities raised its rating on Horizon Technology Finance HRZN from Hold to Buy. Gilford Securities commented, “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%. Thus we now believe that the shares have 10% income potential and 10% capital gains potential given our $16.25 per share price target. This warrants raising the rating from Hold to a Buy Rating. As investors can see in the chart below, investing in HRZN at a 10% discount to NAV has been rewarding over the long term." Horizon Technology Finance closed at $14.60 on Thursday.