Édouard Stephan discovered NGC 7342 = St IV-14, along with NGC 7345, on 11 Sep 1872. His micrometric position is very accurate.

400/500mm - 17.5" (8/12/88): faint, small, round, weak concentration, very faint stellar nucleus. A mag 14 star is at the west edge 25" from the center. Member of the UGC 12127 group with NGC 7345 6.9' ENE.

Notes by Steve Gottlieb