Highwood Asset Management initiated with an Outperform at Raymond James

Raymond James initiated coverage of Highwood Asset Management with an Outperform rating and C$9 price target. The firm expects a valuation adjustment to take place over the coming year following Highwood’s recent amalgamation of companies, which is accelerated as the company announces more prolific wells in the Belly River formation, the analyst tells investors in a research note. Highwood should see long-term organic growth at 15%+, the firm argues.