Hercules Capital price target lowered to $17 from $17.50 at Compass Point

Compass Point analyst Casey Alexander lowered the firm’s price target on Hercules Capital to $17 from $17.50 and keeps a Buy rating on the shares. While expressing “great confidence in the credit culture” at Hercules, at this point in this credit cycle it is still hard to assign “the peak multiple” given the firm’s view that venture debt is likely to underperform cash-flow debt in this cycle, the analyst tells investors.