Highwoods Properties initiated with an Outperform at Wolfe Research

Wolfe Research initiated coverage of Highwoods Properties (HIW) with an Outperform rating and $38 price target which offers 25% total return. The company now has visibility to better occupancy and upside from developments without headwinds from capitalized interest or refinancing, the analyst tells investors in a research note. Wolfe sees “clear growth drivers” for Highwoods’ earnings through 2027 and below-average downside risk.