Hercules Capital price target raised to $20 from $18.25 at Compass Point

Compass Point raised the firm’s price target on Hercules Capital (HTGC) to $20 from $18.25 and keeps a Neutral rating on the shares. The firm has confidence in Hercules’ credit culture, but at this point in the credit cycle argues that it is hard to assign the stock a peak multiple. Given management commentary, the number of shares sold through the equity ATM program, and the amount of new commitments Hercules has already secured for Q1, “it seems obvious that net originations are about to increase significantly,” adds the firm, which is increasing its estimate for net originations in 2025 to $650M from $250M.