TriplePoint Venture price target raised to $8 from $7.50 at Piper Sandler

Piper Sandler raised the firm’s price target on TriplePoint Venture (TPVG) to $8 from $7.50 and keeps a Neutral rating on the shares. The firm notes the company reported a miss in Q4, but noted improving market conditions and demand for debt financing into 2025. Following strong growth in Q3 2024, the portfolio declined 6% in Q4 2024 driven by outsized prepayments. Looking forward, Piper expects debt fundings in Q1 2025 to be similar or slightly lower than Q4 2024, but to pick up later in the year based on company commentary on the improving environment.