Hercules Capital price target raised to $21 from $20 at Piper Sandler

Piper Sandler raised the firm’s price target on Hercules Capital to $21 from $20 and keeps an Overweight rating on the shares. The firm continues to be positive on Hercules and believes the company will be a beneficiary in the shifting competitive environment in venture lending driven by bank turmoil in early 2023. A large competitor’s void from the venture lending space should allow Hercules Capital to add new clients and deepen relationships with current clients.