Horizon Technology price target lowered to $7.50 from $10 at Maxim

Maxim analyst Michael Diana lowered the firm’s price target on Horizon Technology (HRZN) to $7.50 from $10 but keeps a Buy rating on the shares. The company’s Q2 results saw net interest income come in below its current dividend payout, though even a dividend cut would not change the firm’s positive view of its prospects, the analyst tells investors in a research note. Following its merger, Horizon should have more equity, enabling it, in conjunction with Monroe Capital LLC, to be a more important player in the increasingly significant private credit markets and a broader strategy, also targeting small-cap public companies, the firm added.